MAP ANNOUNCES 46% SURGE IN OPERATING PROFIT FOR FULL YEAR 2010 MAP to operate more than 1,000 stores by end of 2011
Jakarta, 23rd March 2011 – Indonesia’s leading lifestyle retailer, PT Mitra Adiperkasa Tbk (MAP) today announced its financial results for full year 2010. For full year 2010, the Company posted record net revenue growth of 15% to Rp 4.7 trillion. Operating profit grew 46% to Rp 449 billion, while net profit for full year 2010 was Rp 201 billion – a 23% increase over 2009.
Commenting on the full year 2010 results, Fetty Kwartati, Corporate Secretary of MAP said: “With the implementation of a consistent business strategy which focused on growth of existing brands, the company has achieved a reasonably good performance last year. Once again, we have posted record revenues and further enhanced our position as the leading lifestyle retailer for the middle to upper consumer market. We will continue to focus on our core business and maximize potential of our existing brands and stores. In addition, we will also acquire new brands which complement and enhance our brand portfolio.”
As at end of last year, MAP has a total of 854 stores – inclusive of 130 new stores the company added in 2010. Currently, MAP has 870 retail stores in 25 major Indonesian cities. As part of its 2011 growth strategy, the group has allocated Rp 350 billion as capex – which will bring its grand total to more than 1,000 stores by end 2011. New expansions include opening of stores in new cities like Jayapura, Palu and Ambon in the eastern part of Indonesia.
To strengthen its brand portfolio, MAP has acquired some new brands, such as Payless ShoeSource, Bershka and Stradivarius among others (the latter two brands from Inditex group which also owns the iconic Zara). Both Bershka and Stradivarius are now open in Plaza Indonesia. Our first Payless ShoeSource will open in April 2011. A multi-award winning company, MAP was voted “Penerbit Obligasi Terbaik 2010 – Kategori Emiten Obligasi Non Keuangan Pendatang Baru Obligasi Mitra Adiperkasa I Tahun 2009 Seri B” by Investor Magazine – Globe Media Group. The Company also won the Oshkosh B’ Gosh “Best Store Merchandising” Award in 2010.
About PT Mitra Adiperkasa Tbk
Major retail concepts under the group include:
- : Debenhams, Java/Lotus, SEIBU and SOGO.
- : Bershka, Dorothy Perkins, Kipling, Lacoste, Loewe, Marks & Spencer, Massimo Dutti, MaxMara, Miss Selfridge, Nautica, Next, Pull and Bear, Samsonite, Sole Effect, Stradivarius, Swatch, Topman, and Topshop.
- Adidas Sports, Converse, Golf House, Planet Sports, Reebok, Rockport, Sports Station, The Athlete’s Foot and The Sports Warehouse.
- : Burger King, Chatterbox, Cold Stone Creamery, Domino’s Pizza, Pizza Marzano and Starbucks.
- : Barbie Boutique, Kidz Station and Oshkosh B’Gosh.
- : Alun Alun Indonesia, and Kinokuniya.
Apart from retailing, the group is also the leading distributor of over 90 international brands including Reebok, Speedo, Converse, Diadora, Lotto, Airwalk, Superman, Batman, OshKosh B’Gosh and Thomas & Friends. More information about MAP can be found at www.map-indonesia.com
For further information, please contact:
Fetty Kwartati
Corporate Secretary
PT Mitra Adiperkasa Tbk
Wisma 46, 8th fl. – Kota BNI
Jl. Jend. Sudirman Kav. 1
Jakarta 10220
Phone : 021 575 0755 (direct)
Fax : 021 574 5753
Email : fetty.kwartati@map.co.id