MR DIY Group (M) Bhd posted a 20% year-on-year rise in net profit to RM174 million for the first quarter ended March 31, 2025 (1QFY25), buoyed by stronger gross margins and continued store expansion.
In a filing with Bursa Malaysia, the home improvement retailer said the improved profitability was largely attributed to lower average inventory costs, made possible by economies of scale in global procurement and a strengthening ringgit.
Revenue grew 10% to RM1.26 billion from RM1.14 billion a year earlier, supported by the opening of 173 new stores over the past year.
This brings its total store count to 1,471 as of March 2025, up from 1,298 previously.
The store expansion helped lift footfall, with total transactions rising 9.1% to 48.2 million.
The group also saw a 0.9% increase in average basket size during the quarter.
Additionally, the earlier timing of Hari Raya Aidilfitri — which fell in March this year — contributed to stronger seasonal sales.
MR DIY declared a single-tier interim dividend of 1.4 sen per share, amounting to RM132.6 million. The dividend will be paid on July 8, 2025.
Its CEO Adrian Ong said the group is planning to open 190 new stores this year across its core and sub-brands, introducing new retail formats and broadening its product range.
“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,” Ong said in a statement.
“We will continue to stay agile and responsive to evolving market conditions and customer needs, all while championing value,” he added.
Ong also noted that throughput at MR DIY’s automated warehouse has “increased significantly” since its launch in August 2024, enhancing operational efficiency as the group scales up.
The counter closed 1 sen or 0.6% lower at RM1.67 today, giving the group a market capitalisation of RM15.81 billion. — TMR
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