Convenience store operator Philippine Seven has said the company expects to return to profitability by the end of 2003, after three years of losses.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Philippine Seven president Yeong-Hsiang Yeh said he is confident the company would be able to post a net income of P30m (US$561,700), or 1% of its net sales, this year, reported Business World. Last year the company posted a net loss of P38.8m.

In the January to May period, the company narrowed its losses to P6m, compared to P45m in the year-ago period.

Philippine Seven has opened 16 new stores in the first five months of the year, and closed two unprofitable stores. The company plans to open a total of 32 new stores this year, bringing the number of 7-Eleven stores it operates to 200.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now