PETALING JAYA: UOB Kay Hian Research (UOBKH Research) sees solid first quarter results of 2024 (1Q24) for MR DIY Group (M) Bhd
given the robust outlook for retail sales.
Citing Retail Group Malaysia (RGM), the research house said retail sales is expected to grow to 4% year-on-year in 2024, an increase from 2.2% in 2023.
“We believe this could bode well for MR DIY’s 1Q24 performance in terms of earnings delivery seeing that same-store sales growth (SSSG) could be resounding against a stable margin outlook,” the research house said
Additionally, RGM is forecasting growth of 7.1% in 1Q24, driven by festivities and school holidays.
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