MR D.I.Y. 's Net Profit Rises To RM174.15 Mln In 1Q

KUALA LUMPUR, May 5 (Bernama) -- 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.

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“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 Dec 31, 2025, to be paid on July 8, 2025.

-- BERNAMA