RHB Research expects a stronger 2H24 showing by MR DIY on seasonal factors and rising contribution from KKV.
PETALING JAYA: MR DIY Group (M) Bhd
’s store expansion and growth of associate KKV Malaysia is set to drive its earnings growth after posting first half (1H24) financial numbers that met analysts’ expectations.
The retailer posted a net profit of RM300mil for 1H24, which was 8% higher year-on-year (y-o-y) as revenue rose 9% y-o-y to RM2.3bil, driven primarily by its net store additions of 172 to take its total outlet count to 1,340 stores across the country.
