KUALA LUMPUR (Aug 17): 99 Speed Mart Retail Holdings Bhd (KL:99SMART) posted a 13.36% increase in second-quarter net profit, driven by higher revenue amid increased customer traffic from its expanding outlet network.

Net profit for the homegrown mini-market chain rose to RM163.95 million or 1.95 sen per share for the quarter ended June 30, 2026 (2QFY2026), from RM144.63 million or 1.72 sen per share a year earlier. Revenue increased 13.59% to RM3.08 billion from RM2.71 billion.

In a bourse filing, the group said the earnings improvement was primarily driven by the continued expansion of its outlet network and the nationwide implementation of earlier opening hours. It added 257 outlets to its network, bringing the total to 3,151 outlets as at end-June 2026, from 2,894 a year earlier.

Total sale transactions increased 13.6% to 146.4 million, with an average basket size of RM21.

The group said its bulk sales e-commerce platform also contributed RM6.9 million in incremental revenue compared with 2QFY2025, further supporting overall revenue growth. Gross profit rose 11.8% year-on-year to RM605.3 million, in line with the higher sales volume. Gross profit margin stood at 19.7% while net profit margin was 5.3%.

No dividend was declared for the quarter under review.

For the first half of FY2026, 99 Speed Mart’s net profit grew 21.75% to RM352.51 million from RM289.53 million a year earlier, while revenue increased 15.51% to RM6.14 billion from RM5.32 billion.

In a statement, 99 Speed Mart founder and chief executive officer Lee Thiam Wah said the group remains committed to strengthening its supply chain as its outlet network continues to expand.

He noted that in July, the group commenced operations at its new distribution centre in Semenyih, which will support about 180 outlets in and around the region.

Lee added that the group continued to broaden its product offerings to meet evolving customer needs.

"Following the encouraging response to our selected home appliances range, we have expanded their availability to all outlets nationwide and introduced them through the 99 Bulksales platform to better serve corporate and bulk purchase customers.

“Together with instalment payment options offered through our banking partner, these efforts will enhance convenience and affordability, while creating new growth opportunities for the company,” he said. 

Shares of 99 Speed Mart ended six sen or 1.64% lower at RM3.59 on Monday, giving it a market capitalisation of RM30.16 billion.