KUALA LUMPUR (Nov 16): Padini Holdings Bhd, which reported a 14.6% year-on-year (y-o-y) rise in net profit in the financial year just ended, aims to maintain its growth momentum in the current financial year ending June 30, 2018 (FY18) despite soft pace of retail sales.

The fashion retailer's net profit rose to RM157.39 million in FY17 from RM137.39 million the previous year, while revenue grew 20.7% to RM1.57 billion from RM1.3 billion.

Padini chief financial officer Sharon Sung said the group, whose brands include Padini, Seed, Padini Authentics, PDI, P&Co and Vincci, will continue to apply the same strategy as in FY17, which resulted in positive growth from its existing stores. It saw an 8% y-o-y same stores sales growth in FY17.

"Hopefully we can do better (in FY18) and to have that (good results), there is no single factor. It is like a whole package, which is the combination of all our brands," she told reporters after the group's annual general meeting today.

"We will put out more efforts, for example into our merchandising and marketing activities," she added.

Sung said the group remains cautious about the outlook for consumer spending in Malaysia amid the ever-changing and evolving retail environment.

"I think consumers will remain cautious in their spending and are more price sensitive in current times," she noted.

On Padini's part, the group will continue to deliver value, and speed-to-market is critical for its continued success.

"We won't be introducing new brands apart from Vincci Mini, but we will continue to improve our merchandising and value chain in terms of giving more value to our customers," said Sung. Vincci Mini is a footwear and handbag brand that focuses on children age two to 10 years.

At 3.38pm, Padini shares were up one sen or 0.2% at RM5.10, with 888,600 shares traded, bringing a market capitalisation of RM3.34 billion.