Retail in Asia

In Shops

Matahari Putra Prima’s Q1 profit rises 60pc on higher sales

Matahari Putra Prima – the operator of Hypermart, Foodmart and the Boston Health & Beauty retail chain – posted 60 percent gain in profit in the first quarter, thanks to steady growth in sales.

Net income rose to IDR81.6 billion (USD6.3 million) in the January-March period from IDR51.0 billion in the same quarter last year, the company said in a statement last week. Net sales rose 7.1 percent to IDR3.35 trillion.

During the quarter, MPP opened 14 new stores including two for Hypermart, one Foodmart supermarket, nine Foodmart Express and two Boston stores.

(Source: Jakarta Globe )