MAP ANNOUNCES 15% JUMP IN NET REVENUE FOR FULL YEAR 2017
Jakarta, 2nd April 2018 – PT Mitra Adiperkasa Tbk (MAP), Indonesia’s leading lifestyle retailer, today announced its financial result for the full year of 2017. Net revenue soared 15% to a record Rp 16.3 trillion; up from the Rp 14.1 trillion posted in prior year. Operating profit rose 26% to
Rp 1.1 trillion, while net profit increased by 68% from Rp 208 to Rp 350 billion.
As part of its restructuring, the Company continued its brand rationalization, resulting in some closures of loss making brands and corresponding losses from inventory and fixed assets write downs. Taking this into account normalized net profit came in at Rp 551 billion and with a net profit margin of 3.4%.
Fetty Kwartati, Head of Corporate Communication said “MAP is now firing on all cylinders in 2017, after our game-changing transformation agenda 2014-2016. We are also encouraged by our initial success in Vietnam with Zara, Massimo Dutti, Pull & Bear and Stradivarius. Looking ahead to 2018, we are optimistic to further build on the gains we have made in the prior year with improved efficiency and robust macro-economic conditions driving our profitability this year.”
About PT Mitra Adiperkasa Tbk
As of February 2018, MAP operates 1,912 retail outlets in 70 major cities throughout Indonesia. The major retail concepts under the group among others: Department Stores: Sogo, Seibu and Galleries Lafayette; Fashion & Lifestyle: Zara, Marks & Spencer, Topman, Topshop, Kipling, Lacoste, Nautica, Massimo Dutti, Staccato, Crabtree & Evelyn, Swarovski, Zara Home and Sephora; Sports: Converse, Golf House, Payless ShoeSource, Oakley, Planet Sports, Reebok, Rockport, Skechers, Sports Station, and The Athlete’s Foot; Food & Beverage: Starbucks, Burger King, Domino’s Pizza, Pizza Marzano, Krispy Kreme, Cold Stone Creamery Ice Cream, Godiva and Paul Bakery; Kids: Kidz Station, Oshkosh B’Gosh, and Carter’s; Others: Kinokuniya and Alun Alun Indonesia. For more information about MAP please visit www.map.co.id
For more information, please contact:
Fetty Kwartati – Head of Corporate Communication
PT Mitra Adiperkasa Tbk
Sahid Sudirman Center 30th fl.
Jl. Jend. Sudirman Kav. 86
Phone : 021 8064 8567, Fax : 021 574 0150
Email : email@example.com