Mynews posts higher quarterly sales on new stores

  • Corporate News
  • Friday, 20 Dec 2019

Mynewsews Holdings CEO Dang Tai Luk giving his opening speech at the launch. (File pic Oct 2.)

KUALA LUMPUR: Mynews Holdings Bhd reported higher sales in the last quarter ended Oct 31 on new store openings, but net profit was almost halved due to higher operating cost and start up losses.

The convenience retail store operator said the outlook remained challenging with players competing to introduce ready-to-eat food similar to the Japan’s konbinis to cater to strong consumer demand.

“Mynews will continue to invest in marketing efforts to shape the local consumers’ habits and to increase customers’ take-up rate in the new product category offerings, ” it said in a filing with Bursa Malaysia yesterday.

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