KUALA LUMPUR: MyNews Holdings Bhd expects sales revenue to maintain its upward trajectory, driven by ongoing efforts to open new stores and enhance product mix and services.
The group currently operates a combined 622 outlets, comprising 471 myNEWS outlets (including 34 Supervalue stores), 131 CU outlets, and 20 WHSmith outlets.
“Opening of new stores is ongoing while the existing stores are improved and revamped when and where necessary. Product mix and services are continually improved to meet market trends and customers’ demands.
“With these efforts, the group expects the sales revenue to continue its upward trend,” MyNews said in a filing with Bursa Malaysia.
MyNews noted that the production volume of the food processing centre (FPC) will increase as well driven by the increasing sales at the retail front.
“While it is undeniable that this market segment is becoming more crowded and competition is more intense, the group believes that with its experience, agility and flexibility, there is still room to grow its brands,” it added.
It will spare no effort in enlarging its store network while improving the financial performance
The group posted a net profit of RM1.73mil, or earnings per share of 0.23 sen in the second quarter ended April 30 compared with a net loss of RM6.3mil, or loss per share of 0.92 sen in the same quarter last year.
Revenue for the quarter rose 10.7% to RM192.8mil against RM174.2mil a year ago.
In the first six months, MyNews posted a net profit of RM3mil on revenue of RM388.3mil.
