Kuala lumpur: 99 Speed Mart Retail Holdings Bhd posted a higher net profit of RM188.56 million in the first quarter of its financial year ended March 31, 2026 (1Q 2026), compared with RM144.90 million in the same period last year.
According to BERNAMA News Agency, the performance was driven by an improved non-essential product mix and effective energy-saving measures. The revenue increased to RM3.07 million in 1Q 2026 from RM2.61 million in 1Q 2025, attributed to the continued expansion of its outlet network. This expansion saw a net addition of 253 outlets year-on-year, bringing the total outlet count to 3,086 as of March 31, 2026.
The company noted that revenue growth was further supported by the implementation of earlier operating hours nationwide. Consequently, total sales transactions increased by 18.0 percent to 141.1 million, while the average basket size remained stable at RM21.70. In addition, the company declared a first interim dividend of 2.25 sen per ordinary share, amounting to a payout of approximately RM189 million for the financial year ending December 31, 2026, with an entitlement date of June 5, 2026, and payment to be made on June 16, 2026.
Lee Thiam Wah, the company's chief executive officer, commented on the company's performance, stating that operations continue to benefit from resilient consumer demand, as they provide affordable daily necessities and accessible services to customers nationwide. This aligns with their Near 'n Save ethos. He mentioned that the group is broadening its product offerings across outlets, including selected small electrical appliances, to provide greater convenience and cater to evolving customer needs.
Lee further noted that as consumer spending patterns shift towards greater value consciousness, the company plans to strengthen its 'four items for RM10' promotional campaign and enhance the 99 Bulksales platform to deliver better affordability and value to customers nationwide. Managing costs and improving utility efficiency remain key priorities for the group. The company is implementing various energy-saving initiatives, such as installing solar panels across retail and distribution operations and optimizing lighting operating hours across outlets, to enhance operational efficiency and support sustainable long-term growth.