Matahari's net profit rises 12% on stronger sales
The country's largest retailer, PT Matahari Putra Prima, said Tuesday (4/3/08) its net profit grew 12% in 2007, supported by stronger sales, Thomson Financial reported.
Matahari booked net profit of Rp180.19 billion, against Rp160.50 billion in 2006.
Sales rose to Rp9.8 trillion from Rp8.5 trillion and operating profit grew to Rp408 billion from Rp401.37 billion.
The stronger sales were mainly attributable to Matahari Department Store (MDS) and Matahari Food Business (MFB).
MDS's sales rose to Rp5.0 trillion from Rp4.4 trillion. MFB recorded sales of Rp4.5 trillion, underpinned by sales growth of 20.8% at its new hypermarkets.
By the end of last year Matahari had increased the number of outlets it has in Indonesia to 80 department stores, 36 hypermarkets, 32 supermarkets, 39 health and beauty centers and more than 90 family entertainment centers.
The Lippo Group, owner of Matahari, said it plans to invest Rp1.5 trillion ($166 million) to open 15 hypermarket outlets in North Sumatra, Asia Pulse reported.
Lippo Group CEO James T. Riady said the prospects are good for hypermarket business in district municipal cities in North Sumatra, which recorded a higher economic growth compared with the country's average.
Currently North Sumatra has only two hypermarket outlets - one in the provincial capital of Medan and in the neighboring city of Binjai.
Riady said Lippo also plans to build two or three new hotels in Medan to cost up to Rp450 billion each.
Matahari booked net profit of Rp180.19 billion, against Rp160.50 billion in 2006.
Sales rose to Rp9.8 trillion from Rp8.5 trillion and operating profit grew to Rp408 billion from Rp401.37 billion.
The stronger sales were mainly attributable to Matahari Department Store (MDS) and Matahari Food Business (MFB).
MDS's sales rose to Rp5.0 trillion from Rp4.4 trillion. MFB recorded sales of Rp4.5 trillion, underpinned by sales growth of 20.8% at its new hypermarkets.
By the end of last year Matahari had increased the number of outlets it has in Indonesia to 80 department stores, 36 hypermarkets, 32 supermarkets, 39 health and beauty centers and more than 90 family entertainment centers.
The Lippo Group, owner of Matahari, said it plans to invest Rp1.5 trillion ($166 million) to open 15 hypermarket outlets in North Sumatra, Asia Pulse reported.
Lippo Group CEO James T. Riady said the prospects are good for hypermarket business in district municipal cities in North Sumatra, which recorded a higher economic growth compared with the country's average.
Currently North Sumatra has only two hypermarket outlets - one in the provincial capital of Medan and in the neighboring city of Binjai.
Riady said Lippo also plans to build two or three new hotels in Medan to cost up to Rp450 billion each.