PETALING JAYA: MyNews Holdings Bhd will focus on advancing food research and development (R&D) initiatives to capture evolving consumer tastes and preferences.
In a filing with Bursa Malaysia, the retail convenience store operator said its R&D team is dedicated to creating innovative, locally relevant ready-to-eat offerings.
These aim to drive traffic, encourage repeat purchases and reinforce the group’s competitive advantage in the convenience retail landscape.
For its first quarter ended Jan 31, 2026, MyNews’ net profit rose to RM4.07mil from RM3.87mil in the previous corresponding period, while revenue improved to RM238.44mil from RM215.87mil a year earlier.
MyNews said the sequential growth in revenue was primarily driven by continued contributions from newly opened outlets and sustained consumer demand during the period under review.
However, the company said gross profit margin declined by 1% to 37.4% from 38.4% previously, primarily due to promotional activities.
“Administrative expenses increased by 11.5% to RM10.93mil from RM9.8mil previously, driven by higher personnel-related costs, increased marketing expenditures, and head office maintenance expenses.
“Selling and distribution expenses decreased marginally by 0.6% to RM47.62mil from RM47.93mil previously, reflecting the group’s commitment to optimising its cost structure while supporting network expansion.”
MyNews said other expenses increased by 1.2% to RM22.64mil from RM22.39mil previously, mainly due to higher depreciation charges arising from the group’s expanded asset base.
Going forward, the group said it recognises that sustainable growth is driven not only by network expansion, but also by disciplined cost management and operational efficiency.
“Accordingly, management remains steadfast in pursuing cost optimisation initiatives across the value chain, leveraging on automation to enhance productivity and efficiency.”
