KUALA LUMPUR: 7-Eleven Malaysia Holdings Bhd
(SEM) expects a relatively stronger performance in the fourth quarter ending Dec 31, 2024 (3Q24) compared to 3Q24, driven by year-end festivities and Phase 1 salary adjustments for civil servants in December.
SEM stated that its focus for the convenience stores segment had been on expanding the 7-CAFÉ store format. This initiative was aimed at broadening product selections, enhancing the in-store customer experience, and driving growth in the fresh food category.
It said the highest number of 7-CAFé stores opened in a quarter was 88 in 3Q24, surpassing 79 in 2Q24.
“Our ongoing initiatives include the continued establishment of our 7-CAFés beyond Klang Valley, expanding into high-potential areas, and strengthening our partnership with our Japanese counterpart to broaden fresh food offerings, maximising commissary production yields via adopting best operational practices and discipline,” it said.
In 3Q24, SEM’s net profit fell to RM10.9mil from RM14.4mil in 3Q23, with earnings per share declining to 0.99 sen from 1.30 sen a year earlier.
Revenue for the quarter rose to RM744.04mil from RM705.3mil last year.
For the first nine months to Sept 30, SEM posted a net profit of RM44.3mil on revenue of RM2.18bil.
