Matahari's profit up 47%

Matahari's profit up 47%

JAKARTA (JP): Publicly-listed retailer PT Matahari Putra Prima
reported a 47 percent increase in its net profit to Rp 15.8
billion (US$7.1 million) in the first quarter of this year over
the same period of 1994.

At a presentation in the Hotel Borobudur Inter-Continental on
Tuesday, Matahari's management said the company recorded net
sales of Rp 3372.4 billion during the first quarter of this year,
up 80 percent from the same period of 1994.

During the first quarter, the company opened five new
department stores -- one in Jakarta, two in West Java, one in
Bali, and another one in North Sulawesi. Matahari, which
currently operates 56 stores across Indonesia, plans to open 11
new stores before the end of this year. (rid)