MAP operating profits up 52% in H1

JAKARTA: Publicly-listed lifestyle retailer PT Mitra Adiperkasa Tbk (MAP) booked a 52 percent increase in operating profits to Rp 186 billion (US$20.83 million) in the first half of this year, up from Rp 123 billion in the same period last year.

The company announced Wednesday that net revenues increased 9.4 percent to a record Rp 2.14 trillion from Rp 1.96 trillion, adding that net profit in the first half was Rp 100 billion.

MAP opened 69 new stores in the country’s major cities in the first half of 2010. “After the opening of a new Sports Station in Abepura [Papua] in May 2010, MAP is now present in 24 major cities in the country,” the company said in a statement. — JP