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MAP records double-digit revenue growth in Q3: Statement
Multi-brand lifestyle company PT Mitra Adiperkasa (MAP) booked revenues of Rp 10.78 trillion (US$793.93 billion) in the third quarter or 13.54 percent year-on-year (yoy) growth due to strong brand resilience, the company announced on Wednesday in a statement.
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PT Mitra Adiperkasa (MAP) corporate communications head Fetty Kwartati (left) is pictured in this Aug. 9 file photo taken at 'Kompas' daily's editorial office, along with Indonesian Shopping Center Tenants Association chairman Budihardjo Iduansjah. (kompas.com/A Handoko)
Anton Hermansyah
Multi-brand lifestyle company PT Mitra Adiperkasa (MAP) booked revenues of Rp 10.78 trillion (US$793.93 billion) in the third quarter or 13.54 percent year-on-year (yoy) growth due to strong brand resilience, the company announced on Wednesday in a statement.
Its net income increased by 112.51 percent to Rp 255.64 billion, as the company benefited from a decrease of 16.77 percent yoy to Rp 297.33 billion in other costs.
MAP corporate communications head Fetty Kwartati said in Wednesday's statement that its brand resilience and cost efficiency strategy had helped the company boost both its revenues and net income.
"“We are pleased to report nine months of growth acceleration underscored by strong cost discipline and operational excellence. This is a solid testament to the resilience of our brands amid challenging business conditions," she said.
MAP manages 41 brands in five categories: department stores, fashion and lifestyle, foods and beverages, sports and children.
Fetty said the company operated 1,916 outlets in 69 cities as of September, with a combined area of 22,200 square meters. (bbn)
