KUALA LUMPUR (Aug 26): 7-Eleven Malaysia Holdings Bhd’s net profit rose 8.42% to RM1.12 million in the second quarter ended June 30, 2021 (2QFY21), from RM1.03 million a year earlier, underpinned by a higher revenue.

Quarterly revenue was up 4.15% to RM676.67 million, from RM649.73 million in 2QFY20, the convenience store operator said in a filing with Bursa Malaysia. 

The group’s convenience store segment recorded a higher profit after tax of RM5.56 million, compared with RM4.28 million in 2QFY20, aided by lower operating expenses on shorter operating hours and lower wages from better manpower planning. 

The segment’s revenue however fell 14.5% to RM436.70 million, from RM510.63 million a year ago.

Meanwhile, the pharmaceutical segment also reported a higher profit of RM6.75 million, compared with RM5.84 million previously, as revenue increased 72.5% to RM239.97 million from RM139.10 million.

On a quarter-on-quarter basis, 7-Eleven’s net profit slumped 90.42% from RM11.69 million in 1QFY21, dragged by higher operating and administrative expenses.

Revenue, however, inched up 2.97% from RM657.13 million in 1QFY21.

For the first half, the group’s net profit climbed 3.18% to RM12.80 million, from RM12.4 million in the same period last year.

Six-month revenue rose 5.1% to RM1.33 billion, from RM1.27 billion previously.

Looking ahead, the group said while consumer sentiments remain a challenge for its convenience stores, it is hopeful that the combination of a successful implementation of the national recovery plan and the progress of the national immunisation programme will help with overall trading conditions.

Shares in 7-Eleven closed unchanged at RM1.53 today, valuing the group at RM1.89 billion.