国际股市

【319股市】 MR DIY slips below RM3 for first time since early 2021

大象配资官方网站 – 319th[.]com

KUALA LUMPUR (June 16): MR DIY Group (M) Bhd’s share price fell below RM3 on Thursday (June 16) for the first time since early 2021.

The counter was down 11 sen or 3.63% at its intraday low of RM2.92 at 3.39pm after 4.62 millions shares changed hands.

The stock went on to close five sen or 1.65% lower at RM2.98, valuing the home improvement retailer at RM18.73 billion.

Year to date, MR DIY shares have dropped about 19%.

Prior to this, the stock last slipped below the RM3 mark on Feb 3, 2021, closing at RM2.91.

The stock is well liked, according to Bloomberg, with 10 analysts having a “buy” call against one “hold” recommendation. Target prices (TPs) range from RM3.10 to RM4.50.

For the first quarter ended March 31, 2022, MR DIY’s net profit fell 19.46% to RM100.5 million from RM124.79 million a year earlier, due to higher expenses in line with more store openings.

The retailer’s revenue for the quarter rose 4.02% to RM905.16 million from RM870.18 million, driven by contributions from new stores.

It declared an interim single-tier dividend of 0.7 sen per share, totalling RM44 million and representing a payout ratio of 42.8%.

MR DIY intends to continue its expansion with a target of 133 more stores to be opened across all brands in 2022. For context, as at March 31, 2021, its total number of stores stood at 947, comprising 841 MR DIY/MR DIY Express stores, 51 MR TOY stores and 55 MR DOLLAR stores.