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Taiwan FamilyMart Reports Strong Q3 Results; Unveils Strategic Expansion Initiatives

t 5903.TWO Mid and Small Cap 2000 Consumer 250
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Taiwan FamilyMart, the leading convenience store chain, has announced robust financial performance for the third quarter of the year. The company recorded a consolidated revenue of 26.281 billion yuan, marking an impressive 9.45% annual increase. Additionally, the after-tax net profit reached 527 million yuan, demonstrating a noteworthy 2.9% rise, with earnings per share standing at 2.36 yuan.

In the cumulative performance for the first three quarters, FamilyMart exhibited strong growth, achieving a total revenue of 74.1 billion yuan, representing a notable 10.31% year-on-year increase. The after-tax net profit surged by an impressive 18.5% to 1.228 billion yuan, accompanied by a rise in earnings per share, which reached 5.5 yuan, reflecting an increase of 0.86 yuan compared to the corresponding period in the previous year.

The positive financial outcomes can be attributed to several key factors. Firstly, the continued expansion of convenience stores within the industry, leading to a substantial increase in the number of stores, which now stands at 4,205 as of the end of September. This expansion has translated to enhanced overall performance and individual store turnover.

Moreover, the industry’s strategic investments have resulted in synchronized profit growth for supporting entities like Taiwan Logistics, Pingrong and Jinxin Foods, and Forby Bread.

Furthermore, FamilyMart International Catering, a reinvested venture, boasts four major brands and a total of 66 restaurants. The third quarter witnessed record-breaking revenue and profit, positioning the company firmly on track for a forthcoming sale next year.

Looking ahead to the fourth quarter, FamilyMart is poised to capitalize on holiday business opportunities, leveraging factors like seasonal changes, e-commerce promotions, and festivities such as Christmas and New Year’s Eve. The company aims to integrate virtual and physical channels seamlessly, offering differentiated products and services to meet the diverse daily needs of its customers, thereby infusing fresh growth momentum into its operations.

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