KUALA LUMPUR (May 20): Mr DIY Group (M) Bhd (KL:MRDIY) posted a record quarterly profit for its first quarter ended March 31, 2026 (1QFY2026), as stronger margins, festive spending and a larger store network lifted earnings.

Net profit rose 10.3% year-on-year (y-o-y) to RM192.02 million from RM174.15 million, while revenue climbed 9.3% to an all-time high of RM1.37 billion from RM1.26 billion a year earlier.

The home improvement retailer declared an interim dividend of 1.6 sen per share, amounting to RM151.6 million for 1QFY2026, up 14.6% from the 1.4 sen paid a year ago.

“This has been a solid start to the year, with growth across all key metrics,” said Malaysia chief executive officer Adrian Ong in a statement.

“Our scale, operational discipline and clear value proposition continue to drive performance, even in a more uncertain environment. We remain focused on delivering what matters most to Malaysians — consistent value, reliable quality and accessibility,” he said.

Ong added that the group recently rolled out its nationwide Harga Tetap Sama initiative to maintain prices across a range of essential products amid persistent cost-of-living pressures and geopolitical uncertainties.

Revenue growth was supported by continued store expansion and sustained customer demand. Total store count grew 7.7% to 1,584 stores as at end-March 2026 from 1,471 a year earlier, strengthening the group’s nationwide presence and accessibility.

The broader footprint helped drive higher customer transactions and healthy footfall across its network, while same-store sales growth (SSSG) was supported by stronger seasonal demand during the Lunar New Year and Hari Raya Aidilfitri festive periods.

SSSG rose back-to-back, at 1.4% in 4QFY2025 (from negative 2.8% in 3QFY2025), to 1.6% in 1QFY2026, driven by strong seasonal demand during Chinese New Year and the Hari Raya Aidilfitri festive periods.

Gross profit climbed 11% to RM667.4 million, with gross profit margin rising 0.8 percentage point to 48.6%, supported by disciplined promotional execution and lower inventory costs following the stronger ringgit.

“Our performance reflects deliberate choices made over time — to remain disciplined on costs, consistent in execution and focused on what matters most to our customers,” Ong said.

The group plans to open about 155 more stores this year. “With a strong foundation, expansion into underpenetrated markets such as East Malaysia and our continued focus on value-led offerings, we are well-positioned to grow responsibly and sustainably,” Ong concluded.

Shares of Mr DIY closed three sen or 1.7% lower at RM1.70 on Wednesday, giving the group a market capitalisation of RM16.11 billion. The stock has risen 9.7% over the past year.