KUALA LUMPUR (Feb 27): 7-Eleven Malaysia Holdings Bhd's net profit fell 32% to RM9.52 million in its fourth quarter ended Dec 31, 2016 (4QFY16), from RM13.94 million in the previous year's corresponding period, due mainly to higher selling and distribution expenses from new store expansion. The minimum wage increase that took effect on July 1 last year also impacted earnings, its bourse filing today showed. Revenue, however, grew 5% to RM523.61 million from RM499.74 million with more new stores, improved merchandise mix and consumer promotion activity. It will be paying 4.7 sen dividend, comprising an interim dividend of 2.3 sen and a special dividend of 2.4 sen for the year, on a date to be announced. On prospects, the group expects trading conditions for the next quarter to remain challenging "due to continued weak consumer confidence/spending and current macro-economic conditions".

Source: The Edge Markets February 27, 2017 13:52 UTC