MAP Revenue Reaches Rp 9.1 Trillion in the First Half of 2021

Retail company PT Mitra Adiperkasa Tbk (MAP) recorded net revenue of Rp 9.1 trillion in the first half of 2021. This figure is up 34% compared to the same period last year, which was Rp 6.8 trillion.

Retail and wholesale revenue was the highest, at Rp 8.6 trillion. Consignment sales commission revenue reached Rp 372.6 billion.

Rental and maintenance service revenue was recorded at Rp 40.6 billion. Meanwhile, MAP's other revenue amounted to Rp 48.4 billion.

MAP incurred a loss of Rp 407.9 billion in the first half of 2020. The company implemented several strategies, ultimately resulting in a net profit of Rp 271.7 billion in the first half of 2021.

Some of the strategies implemented included investing in new brands, new businesses, and new markets, as well as intensifying sales penetration through online platforms. MAP also implemented cost controls to support business recovery amid the uncertainty caused by the Covid-19 pandemic.

Operational expense efficiency was also continuously pursued. This included savings on rent and service fees of approximately Rp 453 billion in the first six months of the year.

MAP's business is supported by 2,674 retail outlets, including online and third-party channels. MAP's retail network spans 210 cities across four countries: Indonesia, Vietnam, Thailand, and the Philippines.

As of June 2021, MAP held a 33.5% stake in PT Sari Burger Indonesia. Burger King (BK) India Limited reportedly expressed interest in acquiring an 85% stake in the Burger King Indonesia operator.