PH 7-Eleven operator 2016 profit up 16.6%

PHILIPPINE Seven Corporation, the local licensee of 7-Eleven convenience stores, said its net income last year rose 16.6 percent to P1.18 billion from P1.01 billion in 2015, driven by new store openings and higher same-store sales.

In a disclosure to the Philippine Stock Exchange on Tuesday, PSC said retail sales of all its stores jumped by 23.2 percent to P31.8 billion last year from P25.8 billion in the previous year.