MR DIY posts record high earnings in first quarter
PETALING JAYA: MR DIY Group (M) Bhd does not expect US reciprocal tariffs to impact its performance even as it reports record financial performance.
Despite the ongoing market volatility due to geopolitical tensions and tariff disputes, the group said its financial position remains solid.
The group said it has declared a dividend of RM132.6mil for the first quarter of financial year 2025 (FY25), representing a payout ratio of 76.1% of net profits and a 40% year-on-year (y-o-y) rise.
This reflects the group's confidence in its prospects, it said.
Malaysia's largest home improvement retailer reported a 20.2% y-o-y increase in net profit to RM174.1mil for the first quarter ended March 31, 2025, which is a record high for the group.
Revenue for the quarter grew 10% y-o-y to RM1.26bil which was driven by like-for-like store sales growth and new store openings during the period.
'We are very encouraged by the strong start to FY25, especially in the face of ongoing uncertainties. Our operational improvements are bearing fruit, with meaningful progress reflected in key financial indicators.
'Notably, throughput at our automated warehouse has increased significantly since its launch in August 2024,' chief executive officer Adrian Ong said in a statement.
'While there is still work to be done, we are confident that we are on the right path – driving operational efficiency and delivering long-term sustainable value to our stakeholders,' Ong added.
Gross profit margin improved by two percentage points y-o-y to 47.8% on lower average inventory costs arising from the economies of scale from its global procurement and the strengthening of the ringgit, it said.
As a result, it said gross profit rose 14.9% y-o-y to RM601.2mil.
Looking ahead, Ong said MR DIY is on track to strategically launch 190 new stores across its core and sub-brands in 2025.
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