Thursday, August 27, 2009

Parkson really doing so well ??

Radio was talking about parkson this morning, Financial year end net profit 541.470 million (increased 20.87%)

Is this true ? Let's look closely of their financial report..
Revenue drop from last quarter 703 million to 574 million, P/L increase from 75 million to 301 million same goes to EPS 7.48 to 29.48.

Let's think again, business volumn decrease but P/L increase 4x+ is it normal ?
We go deeper --

"The Group recorded a seasonally lower performance in the current quarter in view of the absence of major festivities. Group's revenue was 18% lower at RM574.4 million with a corresponding lower profit before taxation of RM153.5 million.


After including the one-off gain of RM245.0 million arising from the share placement mentioned earlier, a higher profit before taxation of RM398.5 million was reported for the quarter under review."

ohhhh ~~ one-off gain of RM245 million arising from share placement so if you take
301 million - 243 million = 58 million vs last quarter 75 million

Whole year P/L of 2009 = 297 million vs P/L of 2008 445 million

Now you get the picture ??!! Is Parkson still doing so well ??!!

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