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View all search resultsMitra Adiperkasa records 278% increase in net profit
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ZARA fashion store on June 10, 2016 in Klaipeda, Lithuania. (Shutterstock.com/Vytautas Kielaitis/File)
P
ublicly listed lifestyle retailer PT Mitra Adiperkasa (MAP) booked Rp 175.02 billion (US$13.1 million) in net profit in the first half of this year, a 278 percent surge from last year’s figure of Rp 46.3 billion.
Mitra’s strong performance was reflected in its growth in retail and wholesale sales, which increased to Rp 7.09 trillion, compared to Rp 6.07 trillion from the same period last year.
The surge in net profit lead to a spike in the company’s earnings per share to Rp 106 apiece, increasing almost four times from Rp 28, which the company recorded in the first half of last year.
“For the second half, we will continue to execute our growth strategy for 2017. We are hopeful that our various key initiatives will put MAP on a path to sustainable long-term growth,” said Fetty Kwartati, Head of Corporation of MAP on Tuesday in Jakarta.
Mitra, which holds a license to market notable foreign retail brands such as Starbucks and Zara among others, also saw its total equity rise to Rp 4.1 trillion from Rp 3.2 trillion, which the company recorded in the first half of last year.
The company’s total liabilities, meanwhile, decreased to Rp 7.32 trillion in the first half of this year compared to Rp 7.47 trillion in the same period last year. (mrc/ags)
