Malaysia-headquartered home improvement retailer Mr DIY plans to raise its store count to more than 2000 nationwide over the next four years, with 180 new locations to be opened this year.

Adrian Ong, CEO of Mr DIY said the planned store openings will further cement the group’s position as the largest home improvement retailer in the country.

“We are confident of our prospects going forward, driven by the demand for everyday essentials at consistent value, especially in this period of persistent inflation and the rising cost of living,” said Ong. “Our growing store network makes us increasingly accessible to more Malaysians, and underpins our role as their go-to retailer for everyday household items.”

The retailer reported revenue of RM1.1 billion (US$230 million) for the fourth quarter, up 7.6 per cent year on year, driven by a 16.8 per cent growth in new stores. Net earnings (PAT) for the period increased 16.6 per cent to RM158.6 million.

For the fiscal year ended December 31, the group registered cumulative revenue of RM4.4 billion, up 9.4 per cent, and PAT of RM560.7 million, up 18.5 per cent.

The group expanded its network from 1080 stores in FY22 to 1255 stores as of the end of FY23.