7-Eleven Malaysia keeps profit levels as before Covid-19 outbreak
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Convenience-store chain 7-Eleven Malaysia has maintained its profitability despite the impact of the coronavirus pandemic.
Profit for the first half of the current financial year from the brand’s convenience-store and pharmaceutical businesses hit US$5.8 million and $1.4 million respectively. The group’s consolidated profit after tax for the half-year was $3.35 million.
The business remained healthy despite the Covid-19 restrictions that enforced restricted hours and the temporary closure of some stores. Stores are still unable to trade 24 hours.
While the business remained profitable, most product categories recorded lower revenues, with the exception of tobacco, which grew 22.7 percent during the reporting period.
The group expects to explore further opportunities for growth in the second half of its financial year as trading conditions gradually recover.
Questions & Answers
Q.Which product category saw increased revenue during the reporting period?
Which product category saw increased revenue during the reporting period?
Most product categories recorded lower revenues. However, tobacco sales grew by 22.7 percent, making it the only exception to this trend.
Q.What was the total consolidated profit after tax for the first half of the financial year?
What was the total consolidated profit after tax for the first half of the financial year?
The group's consolidated profit after tax for the first half of the current financial year was $3.35 million across its businesses.
Q.What challenges did the business face due to Covid-19 restrictions?
What challenges did the business face due to Covid-19 restrictions?
The business faced restricted trading hours and the temporary closure of some stores. Stores are still unable to trade 24 hours a day.
Q.How much profit did the convenience store business contribute in the first half?
How much profit did the convenience store business contribute in the first half?
Profit from the convenience-store business for the first half of the current financial year was US$5.8 million, contributing significantly to the overall results.
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