MR D.I.Y. Group reported revenue of RM1.04 billion for the 2nd quarter ended 30 June 2022, an increase of 38% y-o-y compared to the corresponding period in 2021. The figure sets a new record in its quarterly revenue, following the last quarterly high of RM975.4 million, set in 4QFY21.
For the six-month financial period ended 30 June 2022 (“1HFY22”), the hardware retailer registered cumulative revenue and PAT of RM1.95billion and RM235.7 million respectively, up 20% and 14% compared to the corresponding period in 2021. The overall growth for the period under review was mainly attributable to the strong sales in 2QFY22, driven by a particularly strong festive period performance in April and May 2022.
Announcing the results, MR D.I.Y. Group’s Chief Executive Officer Adrian Ong said,” He detailed that the record revenue was mainly derived from higher average monthly sales per store on the back of stronger sales from existing stores and strong sales performance from new stores opened im the first half of 2022. Consequently, PAT for 2QFY22 grew 65% y-o-y to RM135.2 million, driven mainly by the higher revenue.
The Group saw net growth of 93 stores across its three brands – MR. D.I.Y, MR TOY, and MR DOLLAR – in 1HFY22, an increase of approximately 10% from December 2021 with the majority being MR D.I.Y. stores. This brings the Group’s total number of stores to 993 as at 30 June 2022. The Group aims to open a further 87 stores across all three brands in the second half of 2022.
He added that under the current operating environment, the Group also remained focused on optimising costs and achieving operational efficiencies, whilst seeking to ensure optimal levels of stock at stores to meet customers’ needs.
The Group has declared a quarterly interim dividend of RM56.6 million for 2QFY22. This represents a total cumulative dividend payout of RM100.5 million for 1HFY22 and reflects the continued strong financial position of the Group.
