@lyon91 - price now cheap2 when boss turnaround dis year. nta 1.3. keep calm wait qr. give boss 9 months to prove. covid losing money alredy 0.3xx. making money now but 0.2xx? hehe
The board of directors (the “Board”) of Parkson Retail Group Limited (the “Company”, and together with its subsidiaries, joint venture and associated companies, the “Group”) hereby announces that a meeting of the Board of the Company will be held on Thursday, 17 August 2023 for the purposes of, among other things, considering and approving the unaudited consolidated interim results of the Group for the six months ended 30 June 2023 and its publication and transacting any other business.
Total operating revenues for the period amounted to RMB2,218.2 million, representing an increase of 11.3% as compared to RMB1,993.4 million for the corresponding period of last year. Same store sales (“SSS”) for the period increased by 4.9%. Total gross sales proceeds (“GSP”) inclusive of value-added tax for the period were RMB5,365.5 million, representing a year-on-year increase of 7.3%. Profit from operations for the period was RMB264.8 million, representing an increase of RMB262.1 million as compared to RMB2.7 million for the corresponding period of last year. Profit attributable to owners of the Company for the period was RMB63.1 million, as compared to a loss attributable to owners of the Company of RMB181.8 million recorded for the corresponding period of last year. Declared interim dividend of RMB0.01 per share.
Parksons' performance is very dependent on what happens in China. Just when you thought that China was going to do well, we now have negative news about the property sector, its economic management etc.
Parkson Retail Asia and Parkson Retail Group have both reported profits for Q2 ended June 23. In addition, PRGL also declared a dividend of HKD 0.01 sen. We can expect Parkson Holdings to report similar favourable results. Next week should be interesting to see PHB making more gains before the result is announced, cheers.
@kelvin61 - parkson retail asia also profit? wah. new boss power! update target turnaround dis year in agm and betul2 start turnaround. can give dividend some more. HODL!!!
all China banks just ordered yesterday to sell everything to buy Yuan
China GDP had dropped suddenly way more than 10% The global economic contraction will be driven by China coz ruling party CPM is concerned about China splintering into many political states just like Russia.
Global disposal of assets to support Homeland China is now in progress.
@i3lurker - bro, did you read the agm minutes? i dono about cpm russia. but i see qr match what the new boss say. hehe. anything also ada risk. invest also risk.
Good good, retailers faster take profit before 2Q result it out. Simple calculation of subsidiaries Parkson Retail Asia and Parkson Retail Group results shows total of RM35mln net profit in 2Q. Expecting RM25mln net profit due to expenses on a group level. Annualising it will be RM100mln. Parkson is trading at 3x PE now, please follow i3lurker advice to sell before it surges again.
no worries its not connected at all China china goes bankrupt but Parkson China can have huge profits sell to Martians
Next step => Likely CPM will issue more Global travel restrictions to help Yuan and lower China country expenses. Currently already very hard to get license to travel out of China.
Wow, good to know that China GDP is down 10% and the dire situation in China. Luckily the Shanghai index dropped 1% only for today, still can cut loss. I thought will at least 10% since the situation is so bad.
Tokyo | China’s police have reportedly warned investors facing financial losses against making public protests, in stepped up efforts to clampdown on criticism and head off any social unrest over the country’s increasingly precarious financial health.
With concern growing China is on the brink of a financial crisis, Xi Jinping’s government has doubled down on efforts to contain negative economic data. Authorities this week stopped publishing data on the rising youth unemployment rate, while land sales figures were also missing from regular economic updates.
China on Tuesday suspended releases of data on youth unemployment, which recently soared to record highs, while the July economic data showed a broad slowdown exacerbated by the country's property market slump.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Why2TellMeWhy
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Posted by Why2TellMeWhy > 2023-08-02 22:40 | Report Abuse
keep calm and collect.