PETALING JAYA: 7-Eleven Malaysia Holdings Bhd’s net profit for the first quarter ended March 31, 2021 rose 2.8% to RM11.69 million from RM11.37 million a year ago, while revenue jumped 6% to RM657.13 million from RM619.67 million mainly thanks to the convenience stores segment.
The group’s performance in the quarter was affected by the Covid-19 pandemic. Operations and store operating hours were restricted during the various stages of MCO; several states were placed under the MCO 2.0, from Jan 13, 2021, which was subsequently replaced with the CMCO from March 5, 2021.
7-Eleven said the trading conditions and the overall consumer sentiment will continue to be influenced by the reintroduction of MCO 3.0 nationwide starting on May 2021 and the progress of National Covid-19 Immunisation Programme.
“The group will continue to explore opportunities for growth in other channels and innovation in our product offerings. We will also continue to focus on our customer’s needs, pursuing our core strategy pillars of operational excellence, cost management and commercial innovation, at the same time refreshing the 7-Eleven and Caring brand in the mind of customers though refreshed stores, innovations in our pricing, promotions, and developing exciting products.”
Additionally, it noted that the retail pharmaceutical segment proved a resilient and defensive sector which was bolstered by the pandemic, as consumer focus shifted towards positive health-seeking behaviours and preventive measures. Thus, it believes this will continue to augur well for the segment and the group.
