KUALA LUMPUR: MyNews Holdings Bhd expects steady growth in its business expansion and performance, driven by a healthy gross profit margin and the continued opening of new outlets.
The convenience store operator also credits its growth to a strong commitment to delivering quality convenience store food and services, while maintaining well-established and highly visible brands.
In the second quarter ended April 30, MyNews’ net profit rose 31.6% to RM2.3mil, or 0.30 sen per share, bringing its six-month cumulative profit to RM6.1mil, or 0.82 sen per share.
Revenue for the quarter rose 5.1% to RM202.6mil, bringing total revenue for the first six months to RM418.4mil.
MyNews said business expansion remains ongoing, with a noticeable increase in new store openings and a declining trend in active outlet closures.
The group currently operates 676 outlets, comprising 495 myNEWS stores (including 37 SUPERVALUE outlets), 154 CU outlets, 20 WHSmith outlets, and seven Maru Coffee outlets.
“The management is confident that the goal of 700 outlets in total store count can be surpassed this financial year. The utilisation of the Japanese Food Hub is also projected to intensify alongside this increase in business volume,” it added.
