Matahari targets higher sales

JAKARTA (JP): Publicly listed retailer PT Matahari Putra Prima is upbeat total sales will increase by 30 percent to Rp 3.6 trillion (US$514 million) next year from Rp 2.8 trillion this year.

The company's senior executive, Rendi Paringkuan, attributed the higher sales target to an expected sharp increase in the demand for consumer goods.

"The favorable signs of political and economic conditions could later strengthen Indonesians' purchasing power," Rendy said over the weekend.

The company reported sales of Rp 2.06 trillion in the first nine months of this year, up from Rp 1.58 trillion for the same period last year.

The company's net profit totaled Rp 169.11 billion in the January-September period, swinging up from a net loss of Rp 147.32 billion for the same period a year earlier.

The company has 74 stores nationwide, of which 24 are located in Jakarta, and plans to set up more stores to optimize sales in anticipation of growing public demand.

Rendy said the company, which has 90 percent of its goods deriving from domestic products supplied by small and medium companies, is committed to developing the industries by supporting their marketing through its nationwide network. (06)