KUALA LUMPUR, Aug 27 — Convenience store franchise 7-Eleven Malaysia Berhad posted a profit in the second quarter of this year to become among the rare few businesses to duck the pandemic unscathed, with total revenue amounting to RM510 million.
Its post-tax profit for the April-June period was RM4.3 million although the margin was significantly lower than the RM14.5 million registered in the same period last year, the company said in a statement issued today.
Pharmaceuticals contributed more than a fifth of total revenue at RM139.1 million and RM5.8 million in revenue and PAT respectively.
Its year-to-date core profit from convenience stores and pharmaceuticals amounted to RM24.3 million and RM5.8 million respectively, while the group’s year-to-date post-tax profit landed at RM14.0 million compared to RM25.7 million in the same period 2019.
Corporate exercise expenses incurred amounted to RM7.4 million.
Group chief executive Colin Harvey commenting on the matter attributed the company’s performance on its continuous implementation and improvement of its strategy roadmap.
“We are pleased that we continue to be profitable this quarter in the midst of the Covid-19 pandemic where people were under a movement control order and we have been required to operate with restricted hours and store closures,” Harvey said.
“We are confident that… strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organisation will continue to deliver positive results despite challenging headwinds.”
Harvey added the group’s recent acquisition of pharmaceutical store Caring will add value to the company’s portfolio.
