Matahari expects 18%-19% sales

Matahari expects 18%-19% sales

JAKARTA: PT Matahari Putra Prima, an Indonesian retailer, said Monday it expects its first quarter sales this year to increase by around 18 percent to 19 percent from Rp990.4 billion (US$1= Rp 9,310) a year ago.

"Our sales during the period are expected to be above Rp 1 trillion," Matahari's Investor Relations Manager Danny Konjongian said.

He said the increase was mostly due to the company's sales promotions and the sale of goods with discounted prices but didn't elaborate further.

He said the company expects to release its full first quarter earnings report in the third week of May. --Dow Jones