News | Financial year 2020


Malaysia’s Mr. DIY posts 13 per cent increase in revenue

Mr. DIY operates 683 stores.

Mr. DIY operates 683 stores.

Malaysian home improvement retailer Mr. DIY posted a 13 per cent increase in revenue in 2020 despite grappling with stringent restrictions imposed on the country in the early part of the year due to the Covid-19 pandemic. In a statement posted on the Malaysian stock exchange, Mr. DIY said that it earned revenues of MYR 2.56 bn (Malaysian ringgit; EUR 524.88 mio) for the full year. Profit after tax reached MYR 337.2 mio, up six per cent. Earnings were boosted by a strong final quarter, with Mr. DIY seeing revenues of MYR 768.3 mio - up 25 per cent - and profit after tax of MYR 108.3 mio, 19 per cent higher than the same period in the previous year.

"The robust results were achieved despite mandatory store closures in March and April 2020 as a result of the Movement Control Order and Conditional Movement Control Order (collectively 'CMCO')," the company said, adding that the costs incurred by its initial public offering last October likewise limited earnings growth.

According to the company, same store sales were "strong" during the second half of the year and revenues from new stores also contributed to the boost in earnings.

The retailer, which operates Mr. DIY shops as well as outlets of toy retailer Mr. Toy and dollar store Mr. Dollar, opened 149 locations and closed eight. Of these, 96 were Mr. DIY stores. By year end, the company had 734 stores, of which 683 were Mr. DIY outlets. This was up from 579 locations in 2019. It plans to open another 175 branches across the three brands this year.

|18 February 2021 | 11:33


Post a comment

* Please complete the areas marked in red correctly and in full!.

(will not be published)

* obligatory fields

Latest news

Differentiated view of the home improvement boom

Will the boom on the DIY market triggered by Covid-19 continue this year? And was it a boom at all? These are the questions which Reinier Zuydgeest, View news...

Store closures cause HomePro a decline in sales for the first time

Due to the Covid-19 pandemic, the Thai HomePro group had to accept a drop in sales for the first time in the year 2020. HomePro made sales of THB View news...

Robot mowers are well known, but not widely spread

Robot mowers are known in Sweden by 74 per cent of garden owners, and 17 per cent also own one. Similarly high are the percentage rates in Austria View news...

Home Depot increases sales by 20 per cent in 2020/2021

Plus 25 per cent in the fourth quarter, plus 20 per cent over the whole year - that is a summary of Home Depot's 2020 balance sheets. The global View news...