KUALA LUMPUR: 7-Eleven Malaysia Holdings Bhd (SEM) reported an over six-fold increase in its net profit at RM29.2mil for the fourth quarter ended Dec 31, 2021 (4Q21) from RM4.44mil a year ago.

       Its revenue for the quarter rose 34.4% to RM795.06mil against RM591.42mil in the same quarter a year prior.

       For the full financial year ended Dec 31, 2021, SEM posted a net profit of RM44.35mil, up 49% from RM29.77mil on the back of a 10.6% expansion in revenue to RM2.8bil against RM2.54bil a year earlier.

       SEM said with the overall shorter operating hours in year 2021, revenue from the convenience stores segment declined by RM252.9mil or 12.3% to RM1.81bil with most product categories recording lower revenue, thereby resulting in lower gross profits.

       Excluding corporate exercise expenses, the convenience store segment recorded a core profit after tax of RM40.2mil, a decline of RM7.7m or 16.1%.

       SEM said its revenue from the pharmaceutical segment increased by RM523mil or 110.0% to RM998.5mil, while profit after tax closed at RM42mil.

       The acquisition of The Pill House and Wellings group contributed revenue of RM260mil.

       On its prospects, SEM said in the coming year, the convenience store segment would focus on rolling out its new 7 Café store format, a refreshed concept with much improved product offerings and in-store customer experience.

       In addition, the said 7 Café format is expected to contribute positively to the growth of fresh food category.

       “The pharmaceutical segment, which had shown much resilience over the pandemic, will continue to strengthen its market share together with The Pill House and Wellings group.

       “And through the recently announced joint venture with PT Era Caring Indonesia, the group will mark its foray into the Indonesian market, operating a network of pharmacies under the brand ‘Wellings’ in 2022,” SEM said.