, following the company’s solid financial performance for the fourth quarter ended Dec 31,2020.
Optimistic about the home improvement retailer’s prospects, analysts say they expect MR DIY to continue posting robust earnings growth for the next two years.
UOB Kay Hian Research said despite the conditional movement control order (MCO) being implemented in the fourth quarter, MR DIY’s earnings continued to grow sequentially on strong demand.
“Amid store growth off an apparent high base, store saturation and cannibalisation concerns, MR DIY continues to defy expectations, carving pockets of opportunity with its competitively priced products and operational excellence, backed by an experienced management team, ” the brokerage said in its report.