MR DIY chief executive officer Adrian Ong - LOW LAY PHON/The Star.
KUALA LUMPUR: Mr D.I.Y. Group (M) Bhd optimistic about its prospects going forward, given the positive post-pandemic sentiment, according to chief executive officer Adrian Ong.
“The more favourable freight environment and the strengthening of the Malaysian ringgit against both the United States Dollar and Chinese renminbi also favour a better performance.
“There are still concerns on the impact on household income given rising interest rate and increases in the cost of living,” Ong said in a statement.
He said the group targets to open 180 new stores across all brands in 2023, which will bring the total nationwide store network to over 1,200 and further cement the group’s position as the largest home improvement retailer in the country.
The group’s store network expanded from 900 stores in the financial year ended Dec 31 (FY21) to 1,080 stores as of Dec 31, 2022, across its three brands - MR D.I.Y., MR TOY and MR DOLLAR.
In the fourth quarter ended Dec 31, Mr D.I.Y’s net profit rose 1.13% to RM136.1mil against RM134.5mil achieved in the same quarter last year.
The home improvement retailer’s earnings per share for the quarter rose to 1.44 sen from 1.43 sen a year prior.
Revenue grew by 9.3% to RM1.06bil versus RM975.4mil.
MR D.I.Y declared a dividend of RM56.6mil for 4QFY22, taking the full year’s dividend payout to RM204.2mil.
For FY22, MR DIY posted a net profit of RM472.9mil, up 9.5% from RM431.8mil while revenue jumped 18.15% to RM3.98bil against RM3.37bil last year.
