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Home improvement retailer, MR. DIY posted record-setting financial results for the fourth quarter ended 31 Dec, 2021.
In a filing with Bursa Malaysia, MR. DIY's net profit increased 24.3% to RM134.55 million in 2021 from RM108.26 million in 2020.
MR. DIY's CEO, Adrian Ong said MR. DIY targets to open 180 new stores nationwide in 2022, the highest number of store openings in a year for the company.
The 180 stores will consist of 150 MR. DIY outlets, 15 MR. Dollar stores and 15 MR. TOY stores.
To further advance, MR. DIY will continue to deliver sustainable long-term growth which comes from the strength of its business model, strong unit economics of its flagship MR. DIY stores and the ability to execute on strategic initiatives of new store growth.
“Valuable insights of customer behaviour that were provided by data, drives store growth, inventory management and cost control, which helps us achieve sustainable revenue and profits. It is a proven model, and one that our business is strongly anchored on,” Adrian Ong said in a statement.
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