MR D.I.Y Profit Soars Following Listings

MR D.I.Y. Profit Soars Following Listing

he home improvement T retailer that was listed in September, posted a net profit of RM113.45mil (57 per cent jump) in the third quarter ended Sept 30,2020, compared to RM73.62mil the previous year.

The company also recorded a 32% increase in revenue to RM740.2 million from RM561.72 million in the corresponding quarter last year. The company declared an interim dividend of 0.73 sen per share.

MR D.I.Y. Group (M) Bhd added 46 new stores in the third quarter, representing an increase of about 100% from the average store additions in each of the preceding two quarters.

For the nine months of this year, MR D.I.Y. registered revenue of RM1.79bil and net profit of RM228.9mil, up 8% and 1%, respectively compared to the corresponding period in 2019.

Meanwhile, MR D.I.Y. Group celebrated the opening of 46 new MR D.I.Y., M. TOY and MR DOLLAR stores with grand opening events nationwide. About 50,500 freebies worth more than RM1.5million were up for grabs over the three-day weekend event at the new stores located in Selangor, Kuala Lumpur, Johor, Perak, Perlis, Kedah, Kelantan, Negeri Sembilan, Pahang and Sarawak.

The group’s nationwide event has opened up employment opportunities for 700 Malaysians through the launch of 32 MR D.I.Y., 7 MR TOY and 7 MR DOLLAR stores respectively. MR D.I.Y. Group currently owns and operates more than 710 stores across the country.

MR D.I.Y. Group vice-president of marketing Andy Chin said, “Our past grand opening events demonstrated how much Malaysians welcome a good bargain, which spurred us to fast-track our expansion plans. Opening these 46 new stores just ahead of the year-end festivities and back-to-school period will allow more Malaysians to enjoy quality products without straining their wallets.” MR D.I.Y. also won the Brand of the Year in Retail – Home Improvement Category 2020-2021 in the World Branding Awards.

On winning the award for three consecutive years, Andy Chin said, “This year’s win is testament to our employees’ unwavering commitment, hard work and dedication towards our vision of becoming the market leader in the home improvement retail industry.” “It was also proof of the people’s confidence in MR D.I.Y,” stated Andy. He added that the group plans to open more than 200 MR D.I.Y., MR. TOY and MR. DOLLAR stores nationwide in 2021.

While other companies were cutting jobs at the peak of the COVID-19 pandemic, MR D.I.Y. held a recruitment campaign in June, offering 1,000 positions to fresh graduates, retrenched workers, people with disabilities and the unemployed older generation.

The group has also been supporting national COVID-19 efforts through its ongoing Stay Safe, Malaysia! initiative. It has donated more than RM1.1mil worth of protective gear to frontliners and communities nationwide.