Surprisingly, Matahari's Revenue and Profit Still Grew

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18/09/2017 12:04 WIB

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Revenue and Profit of PT Matahari Department Store.com

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Surprisingly, Matahari's Revenue and Profit Still Grew

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Revenue and Profit of PT Matahari Department Store.com

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Despite negative news circulating regarding the closure of two of its outlets in Pasaraya Blok M and Manggarai, PT Matahari Department Store Tbk (Matahari)'s performance remains quite solid. The revenue and profit of the issuer, traded under the code LPPF on the Indonesian Stock Exchange, still recorded growth in the first half of 2017.

Matahari's financial report for June, which has been published, shows that its revenue for the first six months of 2017 grew by 10.76 percent to Rp 5.74 trillion compared to the first six months of the previous year. Similarly, the company's profit, 17.5 percent of which is owned by Multipolar, also increased by 15.6 percent to Rp 1.33 trillion from the previous year.

Throughout the first six months of 2017, Matahari opened 4 new outlets, and 1 more new outlet in July. Therefore, the total number of outlets currently reaches 156. However, at the end of this month, it will close 2 of its outlets in Jakarta.

(Read Databoks: How Many Matahari Department Store Outlets Are There?)

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."