KUALA LUMPUR: MR D.I.Y Group (M) Bhd will continue to invest in measured store expansion, enabling it to reach more market centres and less urban areas, thereby driving growth.
“The group’s growth will be funded by the group’s strong operating cash flow and net cash balance sheet position which will also support a robust dividend payout policy.
“The group remains on track to open at least 180 new stores across all three brands, which will bring the total store network to over 1,200 stores nationwide,” the home improvement retailer said in a filing with Bursa Malaysia.
MR D.I.Y remained confident in its ability to continue delivering sustainable long-term growth.
It said the steady growth across all key metrics is a strong signal that MR DIY's strong value-price proposition is relevant and resonates with today's value-conscious shopper, who is looking for exceptional value when purchasing everyday essentials.
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“The breadth of the group’s store network and its continued efforts to positively impact the communities in which it operates has resulted in a strong brand that commands the loyalty of the marketplace,” it added.
In the second quarter ended June 30, MR DIY’s net profit rose 11.2% to RM150.3mil, or earnings per share of 1.59 sen from RM135.2mil, or 1.43 sen in the same quarter last year.
Revenue for the quarter expanded 4.8% to RM1.1bil against RM1.05bil last year.
MR DIY declared an interim single-tier dividend of RM0.008 per ordinary share approximately RM75.5mil in respect of the financial year ending Dec 31, 2023, to be paid on Sept 22.
For the first six months, MR DIY posted a higher net profit of RM278.1mil on revenue of RM2.15bil.
