99 Speed Mart's 1Q net profit rises 7.5%, declares 2.25 sen dividend
KUALA LUMPUR: 99 Speed Mart Retail Holdings Bhd, which saw its net profit rise 7.5% in the first quarter, has declared a first interim dividend of 2.25 sen per share — its maiden payout since listing last year.
The convenience store chain operator said the dividend amounted to about RM189mil for the financial year ending Dec 31, 2025.
The entitlement date is fixed on May 29, and payment will be made on June 9.
'In this quarter, we have declared our first dividend since our listing last year, a reflection of our solid financial foundation.
'With a dividend policy of distributing approximately 50% of our net profit, we intend to declare dividends twice annually as part of our commitment to reward shareholders while delivering sustainable long-term value,' founder and chief executive officer Lee Thiam Wah said in a statement.
In the first quarter ended March 31 (1Q25), 99 Speed Mart posted a 7.5% increase in net profit to RM143.2mil, up from RM133.1mil a year earlier.
Revenue for the quarter climbed 7.6% to RM2.6bil from RM2.4bil, while earnings per share rose to 1.70 sen from 1.59 sen a year ago.
99 Speed Mart said the higher revenue was primarily driven by the year-on-year expansion of the outlet network of 246 outlets, bringing the total to 2,833 outlets as of March 31.
During the quarter, total sales transactions rose 7.8% to 119.6 million transactions, with the average basket size remaining stable at RM21.80.
'We are pleased to kick off the financial year with a solid set of results, reflecting our ongoing expansion and the growing traction of 99 Bulksales,' Lee said.
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