7-Eleven Malaysia gross profit up by 8.5% in H1 2019
Its total revenue of RM1.17bn (US$277.9 m) was mainly driven by new store openings.
7-Eleven Malaysia has reported that its gross profit of RM431m (US$102.3 m) improved by RM33.7m (US$8 m) or 8.5% compared to the same period year-on-year, despite expenses related to store openings.
The company now has 2,323 stores trading and plans more openings for the rest of the year.
The new store openings bolstered the company’s total revenue increased by 7.2% to RM1.17bn (US$277.9 m) in H1 2019. 7-Eleven Malaysia cited that higher average spend per customer and increased promotions were also factors in this growth.
Moreover, revenue from its food service segment grew more than 30%, surpassing 3.5% of its total revenue.
The group said it expects trading conditions to remain challenging in the next quarter and it will “continue focusing on its customer’s needs, pursuing Operational Excellence, Cost Management and Commercial Innovation”.
It also aims to do a brand refresh through revamped stores, innovations in pricing, promotions and new products.
Photo credit: 7-Eleven Malaysa Facebook
