Food and beverage retailer Best Mart 360 has posted a revenue increase of 17.3 per cent year over year to HK$1.93 billion (US$246.8 million) in the nine months ended December 31 last year.

During the three quarters, the retail chain continued to develop private label products which generated sales of HK$305.5 million, representing 15.8 per cent of revenue.

Best Mart 360 also opened 19 new retail stores and closed six upon expiration of their leases.

The company ended the period operating 167 chain retail stores including 159 stores in Hong Kong, seven in Macau, and one in mainland China.

“Along with the change in the consumption pattern of tourists after the pandemic, the retail industry is still facing an unpredictable business environment,” Best Mart 360 CEO Hui Chi Kwan said.

“We will continuously optimise our product mix and retail shop distribution to align with consumer needs so as to make the peaks higher and bring greater returns for the shareholders of the group.”

Best Mart 360 said that it will continue to review the regional distribution of its brand stores, adjust its store mix.

In addition, it will continue to explore opportunities to expand the network of its major retail brands Best Mart 360 and FoodVille in Hong Kong and Macau, to achieve an increase of 15 retail stores every year.

It will also sell products to and purchase products from CMHT and its subsidiaries in the next fiscal year, under an agreement between the two companies.

Attributable profit for the nine months totalled $168.3 million.