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Malaysia: Mr DIY posts record quarterly earnings, plans 190 new stores in 2025

Discount Variety Retail Chain Mr DIY Group Bhd's Malaysia (listed on KL:MRDIY) lifted revenue and net profit to record highs in the first quarter ended March 31, 2025 (1QFY2025), by higher festive sales, improved gross margins, and continued store expansion


The home improvement retailer said it plans to open 190 new stores in 2025, including new retail concepts, as it is confident that current US tariffs will not impact its performance and maintained a positive outlook for the year as most of its sourcing comes from China.


“Despite market volatility driven by geopolitical tensions and tariff disputes, our financial position remains solid, at this time, we do not expect the current US tariffs to impact us,” Mr DIY chief executive officer Adrian Ong said in a statement.


“While there is still work to be done, we are confident that we are on the right path, driving operational efficiency and delivering long-term sustainable value to our stakeholders," Ong added.


Mr DIY announced a 20.2% rise in net profit to RM174.15 million, the highest level achieved for a quarter, for 1QFY2025, compared with RM144.88 million a year ago.  


Quarterly revenue grew 10.5% to RM1.26 billion, against RM1.14 billion in the previous corresponding period, underpinned by a higher number of stores. The group added 173 new stores over the past 12 months from 1,298 to 1,471.


Earnings per share rose 1.84 sen from 1.53 sen in 1QFY2024. “This expansion (of the network of stores) translated into higher footfall, with total transactions climbing 9.1% year-on-year to 48.2 million during the quarter, as well as a 0.9% year-on-year increase in average basket size,” Mr DIY said.


The retail group has declared an interim dividend of 1.4 sen per share, totalling RM132.6 million for 1QFY2025, to be paid on July 8.


On a quarter-on-quarter basis, net profit grew 18.3% from RM147.2 million in 4QFY2024, while revenue was up 6.8% from RM1.18 billion, on the back of festive-led sales and higher margins.


Mr DIY’s share price has rebounded from its all-time low of RM1.30 in November last year, to RM1.67 on Monday, valuing the group at RM15.18 billion. The stock is trading at an estimated price-earnings ratio of roughly 25 times.



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