KUALA LUMPUR (Aug 26): QL Resources Bhd (KL:QL) reported a flat quarter as direct and indirect expenses rose faster than revenue growth.

The company, best known for operating the FamilyMart convenience store chain in Malaysia, flagged in an exchange filing cost pressures from expanded sales and service tax measures and subsidy rationalisation as well as intense competition in the retail sector.

“While Malaysia's economy remains resilient, growth momentum is expected to moderate amid cautious consumer spending behaviour and rising business operating costs,” the company said.

Net profit for the three months ended June 30, 2026 (1QFY2027) was RM100.76 million, barely higher than RM100.60 million registered in the same quarter a year earlier.

Pre-tax earnings at its mainstay marine product business — which manufactures surimi, food, snacks, and fishmeal — surged 52% on higher production volumes and better selling prices. The strong showing offset the decline at all other segments.

The convenience store chain segment, in particular, saw a 54% decline in profit before tax from lower sales from exclusion from the Sumbangan Asas Rahmah programme as well as higher rental and logistic costs.

QL Resources, which also produces chicken and eggs, also suffered from lower egg selling prices that weighed on its layer farming operations in Peninsular Malaysia and Vietnam.

No dividend was declared for the quarter.

Shares of QL Resources ended Wednesday up two sen or 0.5% at RM4, giving the company a market capitalisation of RM14.5 billion ahead of the results announcement.