16-05-2025
- Business
- New Straits Times
99 Speed Mart's 1Q25 net profit rises to RM143mil
KUALA LUMPUR: 99 Speed Mart Retail Holdings Bhd's net profit for the first quarter ended March 31, 2025 (1Q 2025) rose to RM143.18 million from RM133.15 million in the same period last year.
Revenue for the quarter under review increased to RM2.61 billion from RM2.43 billion previously, marking a 7.7 per cent rise, driven by the year-on-year expansion of 246 new outlets, bringing the total number of outlets to 2,833 as at March 31, 2025.
In a filing with Bursa Malaysia today, the home improvement retailer said the higher revenue led to an 11.3 per cent increase in gross profit to RM314.5 million, accompanied by a slight improvement in the gross profit margin.
"(This was) mainly due to the increase in promotional discounts and achievement of target incentives in the 1Q 2025," it said.
On prospects, the group said it remains committed to promoting affordability and accessibility.
"This commitment is reflected in our pricing strategies, carefully curated product selections, and strategic outlet placements, ensuring that everyday essentials remain within reach for all segments of the community.
"Through this approach, we aim to enhance customer convenience and support cost-conscious households, while reinforcing our role as a trusted and inclusive retail brand," it said.
The company said it is targeting the commencement of operations for a new distribution centre in Cyberjaya, Selangor, by the 2Q 2025.
"With a built-up area of approximately 120,000 square feet, this facility is expected to support around 200 outlets in and around the Cyberjaya region, while further enhancing the distribution capacity of our bulk sales e-commerce platform," it said.
The company also declared a first interim dividend of 2.25 sen per ordinary share, amounting to approximately RM189.0 million, in respect of the financial year ending Dec 31, 2025, payable on June 9, 2025.
