MAP Posts 38% Surge in Operating Profit for First Half 2018
Jakarta, 31st July 2018 – PT Mitra Adiperkasa Tbk (MAP), the leading lifestyle retailer in Indonesia today announced its financial result for first half 2018. Net revenue rose 18% to Rp 9.1 trillion – up from the Rp 7.7 trillion posted during the corresponding period in 2017. Operating profit jumped 38% from Rp 548.7 billion to Rp 759.3 billion while net profit surged 187% to Rp 503 billion – up from the Rp 175 billion posted in the first half of 2017. The normalized net profit came in at Rp 478 billion and with a net profit margin of 5.3%.
Commenting on the results, Fetty Kwartati, Head of Corporate Communication of MAP said, “We are seeing tremendous improvement from our department stores following restructuring, brand rationalization and closure of non-performing stores. We also benefited from our continued focus on cost efficiency and margin improvement across all Business Units – as well as strong Lebaran sale in June. With many other corporate initiatives in place, we look forward to accelerating this momentum for the second half of 2018.”
About PT Mitra Adiperkasa Tbk
As of June 2018, MAP operates 1,965 retail outlets in 71 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