Matahari's sales up 32.5%

JAKARTA (JP): Indonesia's major retailer PT Matahari Putra Prima reported a 32.5 percent increase in net sales to Rp 2.74 trillion (about US$296 million at the current rate) in the first nine months of this year from Rp 2.06 trillion in the same period last year.

Matahari chief executive officer Hanifah Komala said on Thursday that the significant increase in the net sales were due to the surge in sales in the third quarter of this year.

During the July-September period, sales rose by 44.8 percent, much higher than the 30.2 percent in the second quarter and the 22 percent booked in the first quarter, he said in a statement.

The company's operating income totaled Rp 163.50 billion during the nine month period, exceeding the Rp 162.7 billion it booked in the whole of 1999.

The net profit increased by four percent to Rp 180 billion from Rp 173 billion. (hen)