Fashion
For the 4th Quarter ended 31 December 2017
The Group’s revenue for the current quarter of RM546.2 million grew by RM22.6 million or 4.3% against the
corresponding quarter’s revenue in the previous year of RM523.6 million. The growth in revenue continued to be
driven by the growth in new stores, higher average spend per customer and better consumer promotion activity.
Gross profit of RM173.8 million improved by RM13.1 million or 8.2% compared to the corresponding quarter in the previous year. This was mainly attributed to the increase in revenue and improvement in gross margin by 1.1% points. The improvement in gross margin was due to higher sales contribution from those categories with higher gross profit margins.
Other operating income of RM42.7 million increased by RM10.5 million or 32.4% compared to the corresponding
quarter in the previous year. This is mainly attributed by compensation income from vendors of RM9.3 million in the current quarter.
Selling and distribution expenses for the quarter increased by RM6.5 million or 4.1% against the corresponding quarter of the previous year. This was mainly due to new store expansion resulting in higher rental cost, store depreciation
expense and utility cost. Administrative and other operating expenses for the quarter increased by RM1.0 million or 4.4% due to increase in staff cost.
The increase in revenue, gross margin improvement and other operating income resulted in the Group’s profit after tax of RM15.9 million, an increase of RM6.3 million or 66.5% as compared to the corresponding period in previous year.
For the 12 months ended 31 December 2017
For the 12 months ended 31 December 2017, the Group’s revenue of RM2.19 billion grew RM83.7 million or 4.0%
against the corresponding period in the previous year of RM2.10 billion. The growth in revenue was driven by the
growth in new stores, higher average spend per customer, improved merchandise mix and consumer promotion activity.
Gross profit improved by RM44.8 mil or 6.9% compared to the corresponding 12 months in the previous year. This was mainly attributed to the revenue growth and gross profit margin expansion of 0.9% points.
Other operating income increased by RM21.7 million or 18.8% compared to the corresponding 12 months in the
previous year. This was mainly due to increase in marketing income by RM11.5 million and compensation income
from vendors of RM9.3 million.
Selling and distribution expenses for the 12 months period in 2017 increased by RM55.1 million or 9.2% against the corresponding period of previous year. This is mainly due to impact of minimum wages which came into effect from 1st July 2016, new store expansion and depreciation.
Administrative and other operating expenses increased by RM5.0 million or 5.4% against the corresponding 12 months in the previous year. This is also mainly due to the increase in staff cost and staff training.
This resulted in the Group’s profit after tax of RM50.1 million a decrease of RM2.1 million or 4.0% compared to the corresponding 12 months in the previous year.
