MR DIY posts robust Q2 results despite Covid-19 curbs 

KUALA LUMPUR: Retailer MR DIY Group Bhd reported higher sales and profits in the second quarter despite the full lockdown in June.

Net profit jumped 44% to RM82.1mil from RM57mil a year ago. Revenue climbed 47% to RM760mil, the company said in a filing today.

"Whlist sales momentum remained strong going into April and May 2021, the Group's 2QFY2021 revenue and profit before tax of RM759.8mil and RM112.6mil was 12.7% and 34.1% lower respectively compared to 1QFY2021," it said.

"This was mainly due to the impact of the full movement control order (MCO) which came into force from June 1 and resulted in total transactions for the 2QFY2021 declining 10.4% versus 1QFY2021," it added.

In June, the group's MR DIY and MR DOLLAR stores continued to operate but were limited to selling only essential items, while MR TOY outlets had to close under the guidelines.

"As a result of these restrictions and lower foot traffic, the performance of our stores in June 2021 was impacted," MR DIY said.

Despite this, the group is keeping its expansion plan intact.

"Our target is to open a further 82 stores across all brands for a total of 175 new stores for 2021," MR DIY said.

"This is subject to circumstances allowing the Group to resume normal monthly store opening rates within a reasonable period of time," it added.

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