Home / Knowledge / News / Apparel/Garments / Strong retail sales boost Padini Holdings Q1 earnings
Strong retail sales boost Padini Holdings Q1 earnings
30
Nov '13
At a time when Malaysian apparel industry faces stiff competition from a large number of international players, such as H&M, Levi’s and Adidas, Padini Holdings Bhd clocked up impressive growth in the first quarter ended September 30, 2013, driven by higher sales and surge in exports.

Padini, a leader in the multibillion textile and garment industry in Malaysia, has reported 8.13 growth in its net profit for the first quarter of the financial year at RM27.37 million as against RM25.31 million in the same period last year, in line with expectations, accounting for 29.7 per cent of its 2014 financial year estimates.

Meanwhile, total revenue of the retail chain operator rose by 22.69 per cent as revenue reached RM217.22 million in the first quarter of the current financial year from RM177.03 million in the same period a year ago.

Commenting on earnings, Padini said the improvement in its revenue was driven primarily by an increase in exports as well as by the strong performance achieved by its stores.

Riding high on hopes of strong brand position in the global market, the company has opened two stores, a Padini Concept Store and a Brands Outlet store in the first quarter of 2014 financial year. Covering a total gross floor area of 50,421 square feet, these new stores have further strengthened its brands’ presence in Penang and should allow it to better capitalize on the additional tourist arrivals projected to arrive in conjunction with the 2014 Visit Malaysia Year.

Maintaining bullish approach over the Group’s prospect for the rest of the financial year, Padini slated to open an additional 3 Brands Outlet stores and 2 more Padini Concept Stores in Pulau Langkawi, Seremban and Miri in the next two months.

Padini Group, which has nine labels in its family of brands, witnessed improvement in revenues across all sectors, except for the Padini label, over that recorded during the previous quarter and as a result, profit before taxation rose a significant 78.8 per cent quarter-on-quarter, primarily driven by the Hari Raya and the Merdeka Day promotions.

The board of the company has declared a second interim dividend of 2.5 sen per ordinary share (single tier) and a special dividend of 1.5 sen per ordinary share (single tier) for the current financial year ending June 30, 2014 to be paid in December 2013.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X