KUALA LUMPUR (Sept 11): Convenience store operator MyNews Holdings Bhd (KL:MYNEWS) expects its continued expansion to drive sustained growth for the group as it reported a more than doubling of its third-quarter net profit from a year ago, due to stronger sales and the opening of new stores.

The group's net profit for the third quarter ended July 31, 2025 (3QFY2025) surged to RM6.43 million from RM2.63 million in 3QFY2024, with revenue climbing 11.3% to RM230.9 million from RM207.47 million, its Thursday bourse filing showed.

The higher topline was fuelled by increased in-store sales and the addition of 53 new outlets. As of end-July, MyNews had a total of 679 outlets.

The bottom-line growth was partially offset by a 15.7% year-on-year rise in selling and distribution expenses, which the group partly attributed to a rise in minimum wages, an expanded sales and service tax, and its bigger store network.

MyNews declared an interim dividend of 0.5 sen per share. The company will announce the payment and entitlement dates later.

For the nine months ended July 31, 2025 (9MFY2025), MyNews’ net profit swelled two-fold to RM12.57 million from RM5.62 million in 9MFY2024, as cumulative revenue rose 9% to RM649.37 million from RM595.75 million.

Looking forward, MyNews anticipates sustained growth in business volume, driven by the continued expansion of its retail network. Its current portfolio stands at 685 outlets, comprising 501 MyNews stores, 157 CU stores, 20 WHSmith outlets, and seven Maru Coffee locations.

“As more stores open, utilisation of the Japanese Food Hub is expected to improve in parallel, supporting overall operational efficiency,” it said, referring to its partnerships with Japanese businesses, specifically Kineya Kitchen and Ryoyu Bakery, which produce ready-to-eat meals and bakery products for its retail chains.

The ongoing one-off RM100 Sumbangan Asas Rahmah programme is also expected to benefit the group. MyNews said it has been launching targeted promotion campaigns across its network to capitalise on the anticipated increase in consumer spending.

“The company sees this as a strategic opportunity to enhance customer reach while supporting the government’s goal of easing the cost-of-living burden for Malaysians,” it added.

MyNews aims to drive store traffic, boost basket size, promote essential and value-driven products, and strengthen customer loyalty across all demographics by aligning its marketing strategy with the cash stimulus programme.

Shares in MyNews Holdings Bhd ended the day at 67 sen, up 11 sen or 19.64%, valuing the company at RM498.25 million.