KUALA LUMPUR: 99 Speed Mart Retail Holdings Bhd
started 2026 on a strong quarter, which founder and CEO Lee Thiam Wah attributes to the resilience of the business model despite ongoing geopolitical uncertainties.
"Our operations continue to benefit from resilient consumer demand, as we provide affordable daily necessities and accessible services to customers nationwide, in line with our Near ‘n Save ethos," he said in his review of the company's 1Q results.
In the quarter under review, the retail chain's net profit rose to RM188.56mil from RM144.9mil in the year-ago quarter, which translates to an earnings per share of 2.24 sen as compared to 1.72 sen previously.
Quarterly revenue rose to RM3.07bil from RM2.61bil in the previous comparative quarter.
According to the group, the improved revenue was owing to the expansion of its outlet network with a net addition of 253 outlets year-on-year, bringing the total outlet count to 3,086 as at March 31, 2026.
It said revenue growth was also supported by earlier store openings nationwide, from 10am to 9am.
Accordingly, total sales transactions increased 18% to 141.1 mil, while the average basket size remained stable at RM21.70.
It added that profit was improved by the enhanced non-essential product mix as well as lower utilities expenses and improved operational efficiency driven by the company’s green initiatives.
The board of directors declared a first interim dividend of 2.25 sen per share, with entitlement date on June 5, 2026, and payment made on June 16, 2026.
