KUALA LUMPUR (Sept 25): Bison Consolidated Bhd reported a 52.2% growth in its net profit for the third quarter ended July 31, 2017 (3QFY17) to RM6.18 million from RM4.06 million a year ago.

The management of its products and service offerings as well as collaborations with suppliers helped boost its earnings, the convenience store operator said in a filing with Bursa Malaysia.

Revenue rose 25.5% to RM81.71 million from RM65.12 million, thanks to improved sales from existing outlets and contributions from its new outlets.

Net profit for the cumulative nine-month period (9MFY17) increased 35.5% to RM18.74 million from RM13.83 million in 9MFY16, while revenue grew 24.1% to RM237.20 million from RM191.12 million.

Bison said establishment costs and salaries arising from outlet expansion and recruitment of staff pushed operating expenses higher by 24.5% or RM4.16 million to RM21.12 million in 3QFY17, compared with RM16.96 million a year earlier.

The retailer opened 44 new stores during 9MFY17.  It ended the third quarter with a total of 338 outlets, versus 276 stores as at the end of 3QFY16.

Moving forward, the company said it is pressing on with efforts to improve its margins, products and service offerings, back-end processes and infrastructures, to support its outlets expansion plans.

Bison remains positive that it can continue to deliver profitable results.

Shares in Bison closed unchanged today at RM2.20 with 775,100 shares exchanging hands, giving it a market capitalisation of RM691.46 million.

The counter has climbed almost 32% year to date. It moved within a 52-week range of RM1.59 to RM2.76.