KUALA LUMPUR: MR DIY Group (M) Bhd
mentioned contributions from new shops boosted its income within the three-month ended Sept 30, however the Covid-19 lockdown throughout the quarter impacted its earnings.
Internet revenue fell 20% to RM90.35mil, or 1.44 sen a share whereas income improved 4% to RM768mil.
The corporate has declared a 3rd interim payout of 0.65 sen share.
“In the course of the quarter, roughly 8% of our shops have been closed primarily as a result of pandemic-related restrictions, with situations bettering considerably in direction of to finish of Sept 2021, because the retail working surroundings normalised,” the corporate mentioned in a press release immediately.
Regardless of the difficult year-to-date, the Group noticed a internet progress of 107 shops throughout its three manufacturers – MR. D.I.Y, MR TOY and MR DOLLAR.
This brings the Group’s complete variety of shops to 841 as at finish of September 2021.
The Group’s was set to open an extra 68 shops throughout all three manufacturers within the fourth quarter of 2021.
“Whereas within the quick time period we have been impacted by the closure of shops as a result of COVID-19 restrictions, the long run efficiency continued to indicate regular progress, pushed by new shops,” MR DIY’s Chief Govt Officer Adrian Ong mentioned.
“Additionally encouraging to notice was that the variety of transactions and the common basket measurement had each elevated following the normalisation of retailer operations.” he added.
The Group’s money circulate and stability sheet stay sturdy, offering it with the monetary flexibility to proceed investing for the long run.
Internet money circulate from operations stood at RM434.7mil while the Group’s internet gearing ratio stays a cushty 0.11 occasions; the latter having improved considerably in comparison with the corresponding interval in 2020.
Ong mentioned the Group remained assured of its capability to ship long-term sustainable progress.
“That is premised on the underlying energy of the enterprise, the sturdy unit economics of flagship MR D.I.Y. shops, and the progress we’re making on new retailer progress. We’ll proceed to give attention to bettering price efficiencies, managing our provide chain effectively, and using stringent information self-discipline to make sure the continued relevance of our merchandise,” he mentioned.
