By Ben Otto
Thai convenience-store operator CP ALL PCL's net profit slid 40% in the second quarter, as movement restrictions imposed to contain the spread of Covid-19 cut into convenience-store sales.
The Bangkok-based company, a unit of conglomerate Charoen Pokphand Group, said Tuesday that net profit fell to 2.89 billion baht ($92.9 million), down from THB4.79 billion a year earlier.
The operator of 7-Eleven and other convenience stores in Thailand said revenue slumped almost 11% to THB128.03 billion.
The company opened 106 convenience stores in the quarter, bringing its total to more than 12,000 across Thailand, CP ALL added.
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