7-Eleven hit by higher selling, distribution costs

PETALING JAYA: Continued network expansion and the imposition of higher minimum wage dragged down 7-Eleven Malaysia Holdings Bhd’s net profit for the fourth quarter (Q4) and for the full year ended Dec 31, 2016 (FY16).

In a filing with Bursa Malaysia, the convenience store owner and operator said net profit fell by about a third, or 32%, to RM9.52mil in Q4, as selling and distribution expenses increased by RM9mil from a year earlier.