Latest news with #AdrianOng
The Star
06-05-2025
- Business
- The Star
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.
Malay Mail
05-05-2025
- Business
- Malay Mail
MR D.I.Y. kicks off 2025 with RM174.15m net profit in 1Q, eyes 190 new stores
KUALA LUMPUR, May 5 — MR D.I.Y. Group (M) Bhd's net profit rose to RM174.15 million for the first quarter (1Q) ended March 31, 2025, from RM144.88 million in the same period last year. Revenue rose by 10 per cent, reaching RM1.26 billion, compared to RM1.14 billion in the previous year. This growth was supported by the group's ongoing expansion, which included the addition of 173 new stores. As a result, the total number of stores increased from 1,298 to 1,471, marking a year-on-year (y-o-y) growth of 13.3 per cent. 'The expansion translated into higher footfall, with total transactions climbing 9.1 per cent y-o-y to 48.2 million during the quarter, as well as a 0.9 per cent y-o-y increase in average basket size. 'Notably, the earlier timing of Hari Raya festivities this year — falling in March instead of April — also contributed to stronger seasonal sales,' the home improvement retailer said in a filing with Bursa Malaysia today. The group also recorded RM12.8 million in other operating income, primarily from management fees, interest income from short-term fixed deposits, and accretion of discounts from security and utility deposits on leases. 'Administrative and other operating expenses rose 17.6 per cent and 11.6 per cent y-o-y, respectively, to RM58.5 million and RM304.0 million. 'The increase reflects higher staff costs, utilities, as well as the depreciation of fixed assets and right-of-use assets in line with the group's expanding footprint,' it said. On prospects, the group remains steadfast in its commitment to delivering sustainable, long-term value to stakeholders through strategic investments in growth and technology to enhance operational efficiency, alongside a continued focus on cost optimisation across all operations. 'Looking ahead, the group is on track to strategically launch 190 new stores across its core and sub-brands in 2025. 'These will include innovative retail concepts and expanded product offerings, reinforcing the group's market leadership and its position as the value retailer of choice for all Malaysians,' said MR D.I.Y. In a separate statement, MR D.I.Y. chief executive officer Adrian Ong said the group is confident in its growth, driving operational efficiency and delivering long-term sustainable value to its stakeholders. 'We are encouraged by the strong start to FY2025, 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,' he said. The group has declared an interim single-tier dividend of RM0.014 per ordinary share, amounting to approximately RM132.6 million, for the financial year ending December 31, 2025, to be paid on July 8, 2025. — Bernama
The Star
05-05-2025
- Business
- The Star
Mr DIY sees no impact from US reciprocal tariffs
MR DIY Group (M) Bhd chief executive officer Adrian Ong. PETALING JAYA: Mr D.I.Y. Group (M) Bhd (Mr DIY) does not expect US reciprocal tariffs to impact its performance even as it reported 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 its 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 profits to RM174.1mil for the first quarter ended Mar 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 quarter. '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," its 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 our global procurement and the strengthening of the ringgit currency, 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. "These will include innovative retail concepts and expanded product offerings, reinforcing the group's market leadership and its position as the value retailer of choice for all Malaysians," it said. "We will continue to stay agile and responsive to evolving market conditions and customer needs, all while championing value. Our first quarter results reaffirm our resilience,' Ong said.
New Straits Times
05-05-2025
- Business
- New Straits Times
MR DIY's Q1 earnings jumps to RM174mil, revenue soars to RM1.26bil
KUALA LUMPUR: MR DIY Group (M) Bhd's net profit jumped 20 per cent in the first quarter of financial year 2025 (1QFY25), driven by higher gross profit. The net profit rose to RM174 million for the period from RM144.9 million a year ago, according to a bourse filing. This was driven by improved gross profit margin resulting from lower average inventory costs arising from the economies of scale from global procurement and the strengthening of the ringgit. MR DIY said its revenue grew 10 per cent to RM1.26 billion from RM1.1 billion, underpinned by its ongoing expansion with the addition of 173 new stores, increasing the total store count from 1,298 to 1,471. The expansion translated into higher footfall, with total transactions climbing 9.1 per cent to 48.2 million and a 0.9 per cent increase in average basket size. The earlier timing of Hari Raya festivities this year – falling in March instead of April – also contributed to stronger seasonal sales. MR DIY declared an interim single tier dividend of 1.4 sen a share, totaling RM132.6 million, which will be paid on July 8. Chief executive officer Adrian Ong, in a statement, said the group plans to open 190 new stores across its core and sub-brands this year. These will include innovative retail concepts and expanded product offerings. "Despite market volatility driven by geopolitical tensions and tariff disputes, our financial position remains solid. At this time, we do not expect the current US tariffs to impact us. "We will continue to stay agile and responsive to evolving market conditions and customer needs, all while championing value," he added. He noted that the throughput at MR DIY's automated warehouse has increased significantly since its launch in August 2024.
