Thai convenience retail giant CP All, which oversees the running of 7-11 stores in the country, has reported higher first-quarter sales and earnings.
CP All booked a 15.6% increase in net profit to THB3.19bn (US$197.4m) for the three months to the end of March.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Revenue was up 17.3% at THB50.44bn. The company’s network of company-owned and franchised stores stood at 7,041 outlets, up from 6,822 at the end of March 2012.
Last month, CP All said it had made a US$6.6bn takeover bid for Thai cash-and-carry business Siam Makro.
CP All said it has signed a sale and purchase agreement with the major shareholder for the stake, but the acquisition will now need to go to the shareholders’ meeting for approval. A decision is expected by 12 June.
Siam Makro operates around 58 Makro-branded outlets in Thailand in addition to five Siam Frozen outlets. It reportedly generated revenues of THB112bn last year.
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
