Parkson’s earnings per share for the FY2023 came in at 3.91 cents per share, lower than the recorded 4.27 cents per share for the FY2022.
The group’s revenue saw a 4% decline y-o-y for the FY2023, at $221.5 million, from $231 million in the same period a year before.
Meanwhile, its gross sales proceeds saw a 9.1% y-o-y decrease for the FY2023 at $535.7 million, from $589 million in the same period a year before.
Likewise, the group says that its y-o-y decrease in total merchandise sales is mainly due to the lower store count during the year as well as the weakened spending power of consumers compared to the corresponding year.
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However, rental income increased y-o-y by 5.5% mainly due to better sales attained by tenants. Food and beverage operations registered a y-o-y increase in sales by 6.2%, mainly due to the willingness of consumers to dine out following the recovery from the Covid-19 pandemic, they note.
Its merchandise gross profit margin stood at 27.7%.
As at Dec 31, 2023, the group’s department store network comprised 37 stores spanning approximately 409,000 sqm of gross floor area.
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The group did not declare any dividends as it says that it is “still in accumulated losses position”.
Shares in Parkson Retail closed 0.03 cents lower or 5.357% down at 0.53 cents on Feb 23.
