mr diy group shares rose friday after the homeimprovement retailer posted stronger firstquarter earnings with analysts expecting that positive earnings momentum to continue the malaysian companys shares rose as much as 57 to 168 ringgit mr diy said late thursday that firstquarter net profit rose 27 from a year earlier to myr1278 million 286 million revenue rose 16 to myr105 billion supported by growth in samestore sales and an increase in the number of stores gross profit margin improved 51 percentage points to 443 driven by lower freight costs and higher product prices maybank investment bank analyst jade tam said the companys earnings may improve gradually driven by higher sales and foot traffic during the recent eid holiday gross profit margins are also expected to be sustainable throughout 2023 with continued easing in freight and logistics costs she said in a note rhb investment bank analyst soong wei siang echoed that sentiment expecting cost tailwinds to support a higher gross profit margin and allowing mr diy to be more aggressive with advertising this will be effective in driving foot traffic and stimulating consumer spending against the backdrop of elevated inflation he said in a note