PETALING JAYA: MyNews Holdings Bhd expects steady growth in its business expansion and performance, driven by a healthy gross profit margin and the continued opening of new outlets.

The convenience store operator also credits its growth to a strong commitment to delivering quality convenience store food and services, while maintaining well-established and highly visible brands.

In the second quarter ended April 30, MyNews’ net profit rose 31.6% to RM2.3mil, or 0.30 sen per share, bringing its six-month cumulative profit to RM6.1mil, or 0.82 sen per share.

Revenue for the quarter rose 5.1% to RM202.6mil, bringing total revenue for the first six months to RM418.4mil.

MyNews said business expansion remains ongoing, with a noticeable increase in new store openings and a declining trend in active outlet closures.