Matahari Department Store, one of Indonesia’s largest department store operators, reported profit rose by half in the first quarter on higher sales, driven by higher spending among middle-income households.
Net income in the January-March period climbed to IDR123.1 billion (USD11 million) from IDR82.2 billion in the same quarter in 2013, the company said in a statement released on Wednesday.
Same-store sales – or sales of stores that opened for at least a year –rose 9.3 percent, it said.
(Source: Jakarta Globe )