KUALA LUMPUR: MyNews Holdings Bhd is anticipating continued improvement in its annual performance, driven by the expansion of its retail network.
In comments accompanying its latest quarterly result, the company said it expects sustained business volume growth.
"As more stores open, utilisation of the Japanese Food Hub is expected to improve in parallel, supporting overall operational efficiency," it added.
Moreover, the convenience retail chain group said it is continuously introducing product assortments that resonate with local preferences, promote sustainability, and offer differentiated experiences.
It said it is also working towards introducing 100% cashless outlets in specific locations, in line with the shift towards cashless and contactless payments.
In the third quarter ended July 31, 2025, MyNews saw its net profit more than double year-on-year (y-o-y) to RM6.43mil.
The group's earnings per share rose to 0.86 sen from 0.35 sen in the previous comparative quarter.
The improved bottomline came on the back of higher revenue of 11.3% y-o-y to RM230.94mil, supported in part by stronger in store sales and the addition of 53 new outlets across the group, which brought the total to 679 as of end-July 2025.
According to the group, gross profit margin also improved 0.9% to 38.1% due to a more favourable product mix.
For the three cumulative quarters to July 31, 2025, the group posted a net profit of RM12.57mil, a leap higher from RM5.62mil in the year-ago period. Revenue rose to RM649.37mil from RM595.75mil in the same period last year.
The group declared an interim dividend of 0.5 sen per share, with entitlement and payment dates to be announced later.
