During the 3 years of MR DIY's listing on Bursa Malaysia, the company's shares were seen falling below the RM3 level for the first time since 2021.
As of this writing, MR DIY shares were down 9 sen (3.02%) at RM2.89 from a closing value of RM2.98 with an average volume of 13. 55 million shares.
For the record, the last time MR DIY shares traded below RM3 was on February 3, 2021 at a close of RM2.91.
Together with the value of the shares, the company's capitalization is at RM18.16 billion.
It is understood that so far MR DIY shares have shrunk by about 19%.
According to sources, 10 analysts were seen liking MR DIY shares by placing a ‘buy’ status instead of ‘hold’ with a price target (TP) of RM3.10 to RM4.50.
Meanwhile, the company's net profit for the first quarter ended March 31, 2022 was seen down 19.46% to RM100.5 million from RM124.79 million last year due to higher expenses in line with the opening of more stores.
The company's revenue increased 4.02% to RM905.16 million compared to RM870.18 for the same period last year driven by the opening of new stores.
In addition, MR DIY also declared a one -tier intrim dividend of 0.7 sen per share amounting to RM44 million and representing a payout ratio of 42.8%.
On the other hand, MR DIY is said to be continuing its expansion efforts by opening another 133 new stores across brands for this year.
So far, the company has 947 stores nationwide with a breakdown of 841 MR DIY/MR DIY Express stores, 51 R TOY stores and 55 MR DOLLAR stores.
