Convenience Retail Asia reports modest increase in turnover in FY 2018
cr-asia, Friday, Mar 15, 2019
Circle K Hong Kong operator Convenience Retail Asia has reported a modest increase in turnover last year as its convenience and bakery store networks show signs of maturity. Group turnover rose by 4.4% to HKD5.32 billion (USD0.7 billion) mainly due to 2.9% growth in comparable-store sales for the convenience store business and sales at Zoff. Core operating profit grew by 17.5% and net profit by 21.9%.
The Circle K division opened nine stores last year and closed four, to end the year with 337 stores. A highlight for Convenience Retail Asia last year was the growth of its online-to-offline customer relationship management programs, which continued to underpin its marketing strategy.