Convenience store group CP All, which runs 7-Eleven and Siam Makro stores in Thailand, has revealed strong growth over the past year.
It has posted a net profit of THB19.9 billion (US$631.5 million) for the fiscal year, up 19 per cent on revenue growth with a strong performance also from its cash-and-carry subsidiary.
Expansion and product strategy drove total sales revenue to THB278.7 billion, up 8.7 per cent from the year earlier with a gross profit margin of 28.1 per cent, down from 28.3 per cent because of higher oil prices pressurising logistics costs, says the company.
CP All has more than 10,000 7-Eleven outlets across Thailand. It plans to add a further 700 stores this year with a goal of reaching 13,000 by 2021. It is targeting tourist destinations.
Average daily sales at 7-Eleven stores were THB79,786 last year.
The company plans capital expenditure of THB9.5 to 10 billion for store expansion, renovation and investments in new projects this year.
CP All’s cash-and-carry subsidiary Siam Makro has meanwhile reported 14 per cent growth in net profit, reaching THB6.1 billion.