Alfamart and Alfamidi Stock Prices Rose Throughout 2021

PT Sumber Alfaria Trijaya Tbk (AMRT) share price closed at Rp 1,260/unit on Tuesday, October 26, 2021. This represents a 59.15% increase compared to its position on December 30, 2020.

Similarly, PT Midi Utama Indonesia (MIDI) share price closed at Rp 2,170/unit. This signifies a 13.89% increase in the share price of the Alfamidi retail network management company from its position at the end of 2020.

The increase in the share prices of both issuers is supported by improved financial performance this year. While many retail companies had to close outlets to survive the Covid-19 pandemic, Alfamart and Alfamidi managed to persevere.

In fact, both companies were able to expand by adding outlets throughout the year. Alfamart outlets totaled 15,960 units by the end of the first half of 2021. This is an increase of 526 units compared to the end of 2020.

Meanwhile, Alfamidi outlets totaled 1,923 units by the end of the first half of this year. This is an increase of 125 units compared to the end of last year.

In a disclosure report to the Indonesia Stock Exchange (BEI), AMRT purchased 77.99 million MIDI shares at a price of Rp 1,990/unit, or approximately Rp 155.21 billion. With this purchase, AMRT's ownership of shares in its subsidiary increased to 2.58 billion shares, or approximately 89.43%.

In the first half of 2021, Alfamart recorded a 73% growth in net profit, reaching Rp 853.29 billion compared to Rp 493.26 billion in the same period last year. Similarly, Alfamidi recorded a 26.33% increase in profit, from Rp 103.2 billion in the first half of 2020 to Rp 130.36 billion in the first half of 2021.