PETALING JAYA: MR DIY Group Bhd’s growth prospects remain intact underpinned by store rollouts, earnings growth and its highly cash generative business model, says UOB Kay Hian (UOBKH) Research.
The research house noted the home improvement retailer has a store expansion target of 180 outlets in 2023, which will consist of MR DIY (125 stores), MR DIY Express (35 stores) and MR Dollar and MR Toy (20 stores) respectively.
UOBKH Research added that better economics and customer reception of iterations of the MR DIY format continues to favour the group’s store expansion plans.
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