Parkson Holdings Bhd has chalked up a higher pre-tax profit of RM168.360 million for first quarter ended Sept 30, 2010, from RM153.771 million chalked up in the corresponding quarter last year.

Revenue rose to RM656.485 million, during the period under review, from RM641.864 million previously.

Parkson said the group achieved healthy store sales growth (Malaysia: 9 per cent, China: 11 per cent and Vietnam: 20 per cent) and better operating efficiency in the three countries.

Despite registering better performance in the current quarter under review, the significant weakening of the Chinese Renminbi and Vietnamese Dong against the Ringgit has resulted in lower results being consolidated into the group, it said.
Hence, revenue was only marginally higher, it added.

It also said excluding the impact of the currency translation, on a comparable basis, the group's revenue increased 11 per cent to RM710 million compared with the preceeding corresponding period.

Accordingly, pre-tax profit increased 20 per cent to RM184 million.

Parkson expects its stores to register better performance in the next quarter in view of the year-end festivities and holiday season. -- Bernama