MR DIY Group (M) Bhd's 2nd quarter (2Q) earnings report ending 30 June 2022 saw a 64.59% jump in the company's net profit at RM135.19 million.
It was the highest quarterly revenue record compared to last year at RM82.13 million.
Revealing the published report, 2QFY22 earnings per share rose 1.43 sen from 0.87 sen last year with a one-tier interim dividend announced at RM56.6 million or 0.6 sen per share to be paid on 21 September.
In addition, revenue for 2QFY22 increased by 38.02% to RM1.05 billion from RM759.82 million which is the highest quarterly revenue after 4QFY21's record of RM975.4 million.
The jump in revenue was contributed by an increase in the number of transactions which jumped 35% year-on-year to 36.1 million and was driven by the opening of new stores which added 20.1% year-on-year from 827 to 993 according to Chief Executive Officer Adrian Ong.
The company also underlined that the country's transition to the endemic phase has contributed to increased revenue.
Gross profit margin for 2QFY22 saw a 0.5% decline lower year-on-year at 41% due to the impact of high freight and input costs.
For the first half of 2022 (1HFY22), the company's net profit jumped 13.9% to RM235.69 million from RM206.92 million in the same period last year when revenue for 1HFY22 increased 19.87% to RM1.95 billion.
In the meantime, the company's projections set the opening of another 87 new stores across the brands namely MR.DIY, MR TOY and MR DOLLAR.
As of this writing, MR DIY shares are trading down 3.45% at RM2.24 with a market capitalization of 21.02 billion.
