PETALING JAYA: MyNews Holdings Bhd
’s near term outlook remains gloomy due to the lockdown measures that have caused insufficient foot traffic at its stores.
As the second-largest convenience store chain in the country after 7-Eleven, the company saw its net loss widened to RM10.32mil in the second quarter ended April 30, 2021 (Q2’FY21) compared with a net loss of RM2.33mil in the same quarter last year.
Revenue fell 15.8% to RM103.9mil against RM123.5mil a year ago. For the first six months ended April 30, MyNews posted a net loss of RM19.3mil from a net profit of RM2.02mil a year ago.
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