[ad_1]
KUALA LUMPUR (November 5): Mr DIY Group (M) Bhd’s net profit for the third quarter ended September 30, 2020 (3QFY20) rose 54.11% to RM113.45 million from RM73.62 million in the same quarter of last year. , since it registered higher average monthly sales per store.
Following strong earnings growth, it declared an interim dividend of 0.73 sen / share, amounting to RM 45.8 million, payable on December 18.
Their filing to the stock exchange today showed that revenue increased 31.78% to RM740.23 million in 3QFY20, from RM561.72 million in the previous year, while earnings per share (EPS) increased to 1 86 sen from 1.21 sen.
The nation’s largest home improvement retailer attributed higher sales due to increased transactions, following strong consumer demand sentiment for home improvement products after the Motion Control Order (MCO) , as well as an increase in the number of stores from 556 to 688.
For the nine months ending September 30, group net profit increased a marginal 0.98% to RM 228.9 million from RM 226.68 million, while revenue grew 7.99% to 1 , 79 billion RM from 1.66 billion RM. EPS increased to 3.76 sen from 3.72 sen previously.
Regarding the outlook, the group said it remains cautiously optimistic, on the premise of the strength and resilience of its business, despite the challenging market outlook and uncertainties caused by the pandemic.
The group also said that its growth drivers are still going, as it is targeting a total of 307 new store openings in 2020 and 2021 across its three brands, namely MR DIY, MR TOY and MR DOLLAR.
“We are delighted to report on the strong 3TFY20 results despite the challenges of the current operating environment. The COVID-19 pandemic has impacted lives in many ways, and perhaps most notably consumer behavior. Malaysians are now more aware of how, where and what they buy.
“As a local business focused on meeting the needs of our customers, we realize the importance of providing convenience, choice, accessibility and quality products at ‘Always Low Prices’ to Malaysians seeking value; even more so during this difficult period in which livelihoods are affected, ”DIY CEO Adrian Ong said in a separate statement.
“Going forward, our strategy is to continue to focus on creating sustainable growth by expanding our network of stores across our three brands: MR DIY, MR TOY and MR DOLLAR; generate more foot traffic in our stores to increase revenue, as well as expand our e-commerce business. It is a multi-pronged strategy that we are confident will pay off, ”he added.
The group, meanwhile, noted that its cash flow and balance sheet remained healthy, with a net cash flow from operations of RM360.8 million, while its leverage ratio was “a comfortable 0.69 times”, and He added that it will improve when the equity of around RM301 million raised during its initial public offering (IPO) is taken into account.
Mr DIY shares closed 10 sen or 5.26% higher at RM1.88 today, valued at RM11.8 billion. In less than two weeks since debuting in Bursa Malaysia on October 26, the stock is up 17.5% from its IPO price of RM1.60.
[ad_2]
