MAP announces 11% surge in net revenue to a record Rp 6.1 trillion for first half 2015
Jakarta, 31st July 2015 – Indonesia’s leading lifestyle retailer, PT Mitra Adiperkasa Tbk (MAP) today announced its financial result for first half 2015. Net revenue soared 11% to a record
Rp 6.1 trillion – up from the Rp 5.5 trillion achieved in the first half of 2014. Gross profit grew 4% from Rp 2.6 trillion to Rp 2.7 trillion. Operating profit was Rp 190 billion while net profit was
Rp 26 billion.
Commenting on the result, Fetty Kwartati, Corporate Secretary of MAP said, “Our lower sales growth was due mainly to macroeconomic issues and rupiah depreciation. Going forward, we expect potential impact from import duty hike. But we are making encouraging progress in the reduction of financing charges. Our zero-coupon Rp 1.5 trillion bonds (fully subscribed by CVC in June 2015) has reduced our net gearing – delivering cash saving up to Rp 150 billion in interest cost each year.
Through astute supply chain management, we have reduced our inventories, cut our inventory days and improved our cash flow. Our focus on lean management, a key component of our Transformational Agenda 2014 to 2016, has also led to higher productivity and cost efficiency.
Along with the forthcoming launch of our game changing MAPeMALL (end August 2015) and MAP LOYALTY CARD, we are executing a clear strategy to move MAP to a more dominant position. While the business environment remains challenging, we are positive that MAP is well placed with a solid strategic plan to deliver future growth and shareholder value.
About PT Mitra Adiperkasa Tbk
As of June 2015, MAP operates 1,862 retail outlets in 66 major cities throughout Indonesia. The major retail concepts under the group among others:
- Sogo, Debenhams, Seibu and Galleries Lafayette.
- Zara, Marks & Spencer, Topman, Topshop, Next, Kipling, Lacoste, Nautica, Massimo Dutti, Staccato, DKNY, Crabtree & Evelyn, Swarovski, Zara Home and Sephora.
- Converse, Golf House, Payless ShoeSource, Oakley, Planet Sports, Reebok, Rockport, Skechers, Sports Station, The Athlete’s Foot and The Sports Warehouse.
- Starbucks, Burger King, Domino’s Pizza, Pizza Marzano, Krispy Kreme, Cold Stone Creamery Ice Cream, Godiva and Chatterbox.
- Kidz Station, Oshkosh B’Gosh, Barbie Boutique and Stride Rite.
- Kinokuniya and Alun Alun.
For more information about MAP please visit www.map-indonesia.com
For more information, please contact:
PT Mitra Adiperkasa Tbk
Sahid Sudirman Center 30th fl.
Jl. Jend. Sudirman Kav. 86
Phone : 021 8064 8567
Fax : 021 574 0150
Email : firstname.lastname@example.org