Mr DIY released its 2Q financial reports with the group recording a rise in revenue by 8.8% year-on-year to RM1.19 billion which the group said was primarily driven by positive contributions from new stores.
Consequently, its profit before tax and profit after tax increased 3.3% and 3.2% y-o-y respectively to RM207.9 million and RM155.2 million. This it said was in line with the higher revenue and GP, but partially offset by the higher other operating expenses. Mr DIY Declares Dividend After Q2 Profit Rose 3.2% To RM155 Million
The higher revenue led to a 7.0% year-on-year increase in gross profit, to RM544.7 million. The GP margin for 2QFY2024 remained stable at 45.5% versus the corresponding period in FY2023, following the normalisation of supply chain issues and freight costs.
As for the 1H, the higher revenue of RM2.33 billion the group said was mainly driven by positive contributions from new stores, which grew by 14.7% y-o-y, as well as a corresponding 14.4% y-o-y increase in total transactions to 90.4 million. This was partially offset by a lower average basket size, which decreased 4.7% y-o-y due to the above-mentioned factors.
Gross profit for 1HFY2024 rose 9.8% y-o-y to RM1,068.0 million compared to 1HFY2023, led by higher revenue. The GP margin of 45.7% remained broadly consistent with the same period in FY2023.
The Group's reported PBT and PAT for 1HFY2024 rose 7.8% and 7.9% y-o-y respectively to RM403.0 million and RM300.1 million, due to the above-mentioned factors Mr DIY board declared an interim single tier dividend of RM0.012 per ordinary share approximately RM113.4 million in respect of the financial year ending 31 December 2024, to be paid on 13 September 2024 to shareholders of the Company whose name appear in the Record of Depositors on 30 August 2024.
