Parkson Retail Asia Sees Rising Profits and Extended Watch-List Period

Parkson Retail Asia Limited (SG:O9E) has released an update.

Parkson Retail Asia Limited reports a profit before tax (PBT) of S$16.5 million in the first quarter of 2024, marking an improvement over the S$12.5 million from the same period in 2023, largely due to increased sales. The company is on the SGX-ST Watch-List and has been granted an additional 12-month extension until 2 December 2024, to meet the exit criteria, which includes achieving a consolidated pre-tax profit and an average daily market capitalisation of S$40 million. Efforts to exit the Watch-List include rationalizing operations and improving store productivity, with the Group also seeking opportunities for new stores.

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