The businesses of Parkson Holdings Berhad (KL:5657) are spearheaded by i) The 54.67%-owned Parkson Retail Group Limited (“PRGL”), listed on The Stock Exchange of Hong Kong Limited; and ii) The 67.96%-owned Parkson Retail Asia Limited, listed on the Singapore Exchange Securities Trading Limited.
Parkson Holdings Berhad's 2Q23 results will be released soon, following the recent release of results by its overseas-listed subsidiaries.
|
Company |
|
Market |
Currency |
1Q23 PATAMI |
2Q23 PATAMI |
|
|
|
|
|
(million) |
(million) |
|
Parkson Retail Group Limited |
54.67% |
HKEX |
RMB |
19.896 |
43.197 |
|
Parkson Retail Asia Limited |
67.96% |
SGX |
SGD |
9.176 |
8.85 |
|
Parkson Holdings Berhad |
|
BURSA |
RM |
20.681 (EPS:1.8sen) |
? |
The Hong Kong-listed Parkson Retail Group Limited reported a significant improvement in PATAMI q-o-q, more than doubling from RMB19.896m to RMB43.197m.
It has been almost 5 years, since the previous dividend was declared by the Hong Kong-listed Parkson Retail Group Limited. With a turnaround in results, it has declared a dividend of RMB0.01/share.
“Looking ahead, with four new stores in the pipeline, the Group is well-positioned to capture growth opportunities in markets that we are very familiar with. These new stores will enable us to offer our customers an even wider range of high-quality products. As an outstanding commercial space operator, we aim to provide our customers with an exceptional shopping and life experiences. We are confident that these experiences will contribute significantly to our long-term sustainable growth and profitability.”
Meanwhile, even though Parkson Retail Asia Limited reported a slightly decrease in PATAMI on a sequential basis, from SGD9.176m to SGD8.85m, the PATAMI in Ringgit Malaysia term, could be little changed due to the strengthening of SGD against RM.
As these two foreign-listed companies are the two key subsidiaries of Parkson Holdings Berhad, we could reasonably expect the holding company to report stronger earnings in 2Q23 compared to the immediate preceding quarter.
|
Parkson Retail Group Limited |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
PATAMI |
PATAMI (RMB) |
353.65 |
235.03 |
(186.15) |
147.26 |
(135.95) |
(79.28) |
(222.75) |
(250.11) |
(175.98) |
(413.18) |
63.09 |
|
*Financial year end 31 December |
|||||||||||
|
Parkson Retail Asia Limited |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
1H23 |
|
PATAMI (SGD) |
38.58 |
34.38 |
(34.69) |
30.18 |
(58.22) |
(42.67) |
(34.60) |
(84.93) |
13.73 |
28.76 |
18.03 |
|
*Financial year end 30 June (2013-2020) |
|||||||||||
|
Parkson Holdings Berhad |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
1H23 |
|
PATAMI (RM) |
238.20 |
138.15 |
46.59 |
(95.74) |
(120.90) |
(99.44) |
(129.18) |
(436.35) |
(101.80) |
(119.95) |
? |
|
*Financial year end 30 June (2013-2020) |
|||||||||||
Parkson Holdings Berhad (KL:5657) reported EPS of 1.8sen in 1Q23. With an expectation of stronger 2Q23 results, it is likely that Parkson Holdings Berhad will turn around and record a full-year profit in 2023, after 7 consecutive years of losses.
How much EPS could Parkson Holdings Berhad make a year going forward? What is the reasonable target PE multiple for the stock?
Parkson Holdings Berhad: 10-year chart
PARKSON RETAIL GROUP LIMITED (HK:3368)
PARKSON RETAIL ASIA LIMITED (SI:O9E)
