KUALA LUMPUR: 7-Eleven Malaysia Holdings Bhd’s revenue increased 6.4% to a record high of RM2.36 bil in the financial year ended Dec 31, 2019 (FY19).
Net profit improved to RM54.06 mil from RM51.31 mil previously due to the stronger revenue, favourable sales mix and higher marketing income, the country’s leading 24-hour convenience store operator said in a filing with Bursa Malaysia today.
“Growth in revenue continued to be driven by the growth in new stores, higher customer count, higher average spend per customer and better consumer promotion activity,” the company said, adding that the fresh food business grew more than 28% from the previous year.
In a press statement, CEO Colin Harvey said the company opened 41 stores in the fourth quarter of last year, crossing the 2,400 mark to end the year with 2,411 stores.
“We are confident that continuous implementation and improvement of our strategy roadmap in strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organisation will continue to deliver positive results despite challenging headwinds,” he added.
On its prospects, 7-Eleven Malaysia said the board of directors expected the trading conditions for this quarter to be stable.
“We will continue to focus on our customers’ needs, pursuing our core strategy pillars of operational excellence, cost management and commercial innovation and at the same time refreshing the 7-Eleven brand in the minds of customers through refreshed stores, innovations in our pricing, promotions, and developing exciting products,” it added. – Feb 27, 2020, Bernama
