News | Third quarter


Less transactions, but bigger baskets: Mr. DIY grows by 3.8 per cent

Mr. DIY is Malaysia’s largest home improvement retailer.

Mr. DIY is Malaysia’s largest home improvement retailer.

Its tills rang up purchases less often, but Malaysian home improvement chain Mr. DIY Group saw a sales uptick in the third quarter of 2021 thanks to shoppers who are spending more per store visit. The operator of Mr. DIY stores in Malaysia and Brunei disclosed revenues of 768.02 mio Malaysian ringgit (MYR, EUR 159.66 mio) for the period, up 3.8 per cent from the same quarter last year.

A seven per cent fall in transactions due to Covid-19-related store closures affected sales, but a 12 per cent rise in shoppers' average basket size, along with fresh revenues from the 107 new stores Mr. DIY opened so far this year, lent support.

For the nine months ending September 2021, revenues rose 33.9 per cent to MYR 2.398 bn (EUR 499.25 mio). Malaysia sales accounted for MYR 2.377 bn (EUR 494.88 mio, up 33.9 per cent) while Brunei contributed MYR 20.179 mio (EUR 4.20 mio, a 20 per cent rise).

"As economic activity has largely returned to normality post-September 2021, the group remains confident of its ability to deliver long-term sustainable growth," Mr. DIY said.

Malaysia's biggest home improvement retailer is slated to open 68 more stores across all its brands in the last quarter. It was set to open 35 branches last October alone.

| 3 November 2021 | 15:45

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