Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (Feb 27): Fashion retailer Padini Holdings Bhd’s net profit grew 6.47% to RM53.2 million or 8.09 sen per share in the second quarter ended Dec 31, 2018 (2QFY19) versus RM49.97 million or 7.6 sen a share a year earlier, thanks to higher sales generated from the opening of four new stores.

Quarterly revenue was up marginally by 0.47% to RM462.58 million from RM460.43 million in 2QFY18, the group’s filing with Bursa Malaysia showed.

Padini declared a third interim dividend of 2.5 sen a share, payable on March 29.

For the cumulative first six months of FY19, Padini’s net profit slipped 12.34% to RM71.17 million or 10.82 sen per share from RM81.19 million or 12.34 sen per share a year ago, while revenue rose 2.16% to RM792.36 million from RM775.61 million.

On prospects, Padini expressed its confidence of turning in another profitable period despite the challenging economic environment and rising costs.

“The management will continue to be vigilant to the changes in the external environment and take necessary action, including reviewing our cost structure in order to maintain long-term sustainable growth,” the group said.

Padini’s shares closed five sen or 1.45% higher at RM3.51 today, giving it a market capitalisation of RM2.31 billion. The counter has come down by 27% over the past 12 months.

      Print
      Text Size
      Share