Magazines Archives - 2008 April

Matahari turns in a sterling sales performance
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LISTED Indonesian consumer-goods company Matahari Putra Prima Tbk reported that it surpassed the US$1-billion sales mark last year, with consolidated sales hitting Rp9.8 trillion
(US$1.065 billion) on strong support from its fashion and food businesses.

The figure represented a 16.1% year-on-year growth, while overall comparable sales growth rose by
8.9%. “The outstanding sales performance was derived from the solid growth in the company’s core retail division sales contribution, Matahari Department Store and Matahari Food Business,” said a Matahari official.

The group’s department-store sales went up to Rp5 trillion from Rp4.4 trillion, while its food business recorded total sales of Rp4.5 trillion, underpinned by strong sales growth from its new hypermarket stores. Net income was recorded at Rp180.2 billion, up 12.3% from Rp160.5 billion in 2006.

Listed on the Jakarta and Surabaya stock exchanges, Matahari dominates the Indonesian market with 80 department stores, 36 hypermarkets, 32 supermarkets, 39 health-and beauty centres and more than 90 family- entertainment centres nationwide at end-2007. The company, which is
operated by investment holding firm PT Multipolar Tbk, has 853,423sqm of retail floor space.