PETALING JAYA: MR DIY Group (M) Bhd
’s store expansion and growth of associate KKV Malaysia is set to drive its earnings growth after posting first half (1H24) financial numbers that met analysts’ expectations.
The retailer posted a net profit of RM300mil for 1H24, which was 8% higher year-on-year (y-o-y) as revenue rose 9% y-o-y to RM2.3bil, driven primarily by its net store additions of 172 to take its total outlet count to 1,340 stores across the country.
Analysts raised their target price and forecasts on the hardware retailer following the strong performance, but the focus now is on how KKV Supply Chain Sdn Bhd’s (KKV) expansion would drive MR DIY’s prospects.
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