7-Eleven Malaysia revenue soars

Listed comfort retailer operator 7-Eleven Malaysia says gross sales soared 23.7 per cent within the first quarter, previous to the April 1 introduction of GST.

And the corporate, in a press release to the inventory trade, expressed optimism in its instant prospects regardless of a common softening of the retail market because the implementation of GST.

“We’re assured concerning the future progress prospects for the remaining interval of the present monetary yr as we’re assured of holding onto our market main place whereas our new retailer enlargement plan stays on monitor.”

7-Eleven Malaysia reported a revenue of RM14.38 million (US$three.93 million). The expansion was attributed to gross sales progress, a 1.9 per cent enchancment in gross revenue margin and a 14.eight per cent progress in different working revenue.

Income for the quarter rose 11.5 per cent to RM504.99 million ($137.9 million), largely resulting from retailer community enlargement and an improved merchandise combine.

7-Eleven Malaysia now has greater than 1500 shops nationwide.