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.
