- 7-Eleven Malaysia Holdings recorded a 52.7 percent decline in 2Q15 net profit to RM10.7 million, despite registering a 2.3 percent gain in revenue to RM482.3 million.
- The poorer performance has been attributed to lower sales growth, due to the impact of the goods and services tax (GST) and weak consumer confidence, as well as higher selling and distribution expenses from new store expansion.
- For the six-month period, top line expanded 6.8 percent to RM924.7 million while bottom line shrank 10.3 percent to RM25.1 million.
Significance: Looking forward, the group expects the trading conditions for the remaining FY15 to stay challenging due to general softening in the domestic private consumption since GST implementation, but added that it was positive of holding on to its market leading position while its new store expansion plan remains on track.
Contributed by Shares Investment
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