MR DIY remains on track for growth in 2021

KUALA LUMPUR (Bernama) -- MR DIY Group (M) Bhd remains on track for growth in 2021 with its three-pronged strategy to drive growth, deliver value, and achieve operational efficiencies.

Chief executive officer Adrian Ong said the group planned to add 175 new stores across its three brands, comprising 100 new MR DIY stores, 25 new MR TOY stores, and 50 new MR DOLLAR stores.

"We will continue to support the nation’s fight against the pandemic, whilst ensuring all our retail stores carry sufficient supplies of affordable COVID-19 essentials for the people," he said in a statement in conjunction with company’s maiden annual general meeting (AGM) today.

The largest home improvement network successfully hosted its AGM virtually with all ordinary resolutions receiving the approval of shareholders with voting carried out online.

Ong said the group's share of the home improvement retail market grew to 36.4 per cent in 2020, an increase of 5.5 per cent over the previous year.

"This growth was mainly driven by same-store growth, which increased by 4.4 per cent in 2020, and the growth in basket size, as customers were much more purposeful in their trips during the pandemic, with fewer trips to the store but more purchases during each visit," he added.

Ong noted that the company had processed over 95 million transactions, almost three times the population of Malaysia, in 2020.

"We are putting more focus on the use of data, analytics and technology, and will use the information to map our inventory to meet customer demand,” he said.

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