99 Speedmart registered revenue of RM2.55 billion for 2024-Q3, representing an increase of RM206.4 million or 8.8% compared to 2023-Q3, primarily driven by the expansion of the outlets network. The Group grew its outlets by net addition of 51 new outlets in 2024- Q3, bringing the total to 2,697 outlets as of 30 September 2024.

The total sales transactions rose by 11.9% to 120.2 million transactions in 2024-Q3 compared to 2023-Q3. This was partially offset by a lower average basket size, which reduced by 2.8% to RM21.20.

The increased revenue resulted in a 1.3% rise in GP, reaching RM219.7 million. However, the GP margin for 2024-Q3 declined by 0.6% to 8.6% compared to 2023-Q3, primarily due to inventory loss adjustments made during the routine semi-annual inventory count in July 2024. For reference, the semi-annual inventory count for FYE 2023 was conducted in June 2023, with a GP margin of 8.5% in 2023-Q2.

Despite the increase in revenue and GP, the PBT and PAT declined by RM3.7 million and RM3.9 million respectively in 2024-Q3. The PBT margin and PAT margin were 5.7% and 4.2% respectively, mainly due to the abovementioned one-off expenses totalling RM23.2 million incurred in 2024-Q3.