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7-Eleven Malaysia maintains profit despite Covid-19 tumult

Convenience-store chain 7-Eleven Malaysia has maintained its profitability despite the impact of the coronavirus pandemic.

Profit for the first half of the current financial year from the brand’s convenience-store and pharmaceutical businesses hit US$5.8 million and $1.4 million respectively. The group’s consolidated profit after tax for the half year was $3.35 million.

The business remained healthy despite the Covid-19 restrictions that enforced restricted hours and the temporary closure of some stores. Stores are still unable to trade 24 hours.

While the business remained profitable, most product categories recorded lower revenues, with the exception of tobacco, which grew 22.7 per cent during the reporting period.

The group expects to explore further opportunities for growth in the second half of its financial year as trading conditions gradually recover.

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