Q1 sales growth quarter for 7-Eleven Malaysia

In a first quarter marked by expansion and sales growth, 7-Eleven Malaysia saw its net profit soar 11.6 per cent from the same period a year ago.

Total sales growth for the quarter was 2.5 per cent, while the gross profit margin continued to improve, says the company.

Driven by store openings, higher customer counts and improved consumer promotions, the group’s revenue for the quarter grew by 2.5 per cent to RM535.7 million (US$134.4 million).

Gross profit of RM171 million improved by 7 per cent, and this was mainly attributed to the increase in revenue and improvement in gross margin by 1.3 points.

Profit after tax was RM8.9 million, up 11.6 per cent.

One2Pay mobile wallet launched in January, with payments and top-ups enabled in all stores, while continued store expansion took the total network to 2235 outlets.