Showing posts with label clothes. Show all posts
Showing posts with label clothes. Show all posts

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 ??!!