KUALA LUMPUR: MR D.I.Y. Group (M) Bhd's 2025 growth plan includes opening 190 new stores across its core brands, including KKV, which is expected to drive revenue growth and sustain profitability.
“The group's investment in the KKV retail chain complements its existing offerings and is projected to further enhance overall profitability,” the home improvement retailer said in the notes accompanying its financial results.
MR DIY acquired a 49% stake in KKV in May. KKV is one of China’s largest lifestyle retailers, offering over 20,000 types of trendy lifestyle products in its Malaysian stores.
In the third quarter ended Sept 30, MR DIY posted a lower net profit of RM121.6mil compared with RM123.9mil in the same quarter last year, translating into an earnings per share of 1.29 sen against 1.31 sen previously.
Revenue for the quarter rose 6.42% to RM1.13bil from RM1.06bil achieved last year.
In the first nine months to Sept 30, the group posted a net profit of RM421.7mil, up 4.9% from RM402mil last year while revenue grew 8.15% to RM3.47bil against RM3.21bil a year prior.
MR DIY declared an interim single-tier dividend of RM0.01 per ordinary share, amounting to approximately RM94.5mil, representing a payout ratio of 77.7% of net profit. The dividend will be paid on Dec 13, 2024.
“This quarter's dividend surpasses the target payout ratio of 50-65%,” it said.
“The group is dedicated to delivering long-term sustainable value and growth to its stakeholders through its store expansion strategy, enhanced merchandising range, and improvements in operational efficiency,” MR DIY said.