KUALA LUMPUR (Aug 27): Padini Holdings Bhd’s net profit grew 45.1% to RM57.29 million in the fourth financial quarter ended June 30, 2018 (4QFY18) from RM39.48 million a year ago, on higher revenue.

Padini attributed the higher earnings to improvement in gross profit (GP) margin, as well as counter balance by the increase in selling and distribution expenses.

This resulted in a higher earnings per share of 8.71 sen for 4QFY18 compared with 6 sen for 4QFY17.

Quarterly revenue was also up 3.8% to RM477.91 million from RM460.31 million in 4QFY17, which was mainly contributed by Hari Raya festival sales which fell in June, and four days special sales promotion held in the current quarter under review.

The group also declared a first interim dividend of 2.5 sen per share for the financial year ending June 30, 2019 (FY19), payable on Sept 28. For FY18, it paid a total of 11.5 sen per share.

For the full FY18, Padini saw its net profit rise 13.3% to RM178.26 million from RM157.39 million a year ago, while revenue increased 6.9% to RM1.68 billion from RM1.57 billion in FY17.

On prospects, the group is confident of turning in another profitable period despite the challenging economic environment and rising cost.

“The management will continue to be vigilant to the changes in the external environment and take necessary actions, including reviewing our cost structure in order to maintain long term sustainable growth,” said Padini in a filing with Bursa Malaysia today.

Padini shares closed 12 sen or 2.03% higher at RM6.04 today, for a market capitalisation of RM3.97 billion. Over the past year, the stock has risen 52% from RM3.97.