Best Mart 360 announces positive profit alert and expects to record a significant increase of over 250% in net profit of FY2023 Interim Results
HONG KONG SAR - Media OutReach - 25 October 2022 - Best Mart 360 Holdings Limited ("Best Mart 360" or the "Company", together with its subsidiaries, the "Group"; stock code: 2360.HK), a leisure food retailer in Hong Kong, is pleased to announce that, the Group is expected to record a significant increase of not less than 250% in the profit attributable to owners of the Company for the six months ended 30 September 2022 ("the Period under Review") as compared to the same period last year.
Such increase in profit attributable to owners of the Company was mainly attributable to the following factors:
(i) revenue increased by approximately 19.6% as compared to the same period last year, which mainly attributable to the Group's expansion strategy. During the Period under Review, the Group had a net opening of 15 retail stores in Mainland China, Hong Kong, and Macau as compared to the corresponding period last year;
(ii) sales strategy adjustment and product structure optimization led to the increase of gross profit margin; and
(iii) the Group achieved higher operating efficiency by improving the ratios of staff costs to revenue and rent to revenue respectively.
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About Best Mart 360 Holdings Limited
Best Mart 360 Holdings Limited, mainly operates chain retail stores under the brand "Best Mart 360˚". It offers wide collection of imported prepackaged leisure foods and other products, principally from overseas. The Group's business objective is to offer "Best Quality" and "Best Price" products to customers through continuous efforts on global procurement with a mission to provide comfortable shopping environment and pleasurable shopping experience to customers. As at 30 September 2022, the Group operates 144 retail stores that are strategically located at 18 districts in Hong Kong, Macau and Shenzhen, which including "FoodVille", a global gourmet brand that was officially launched in September 2021 and mainly provides globally sourced medium-to-high-end quality food products.
