Disappointing year for Matahari Putra Prima

While the net income of Indonesian grocery retailer Matahari Putra Prima (MPPA) was below expectations, it recorded slightly improved revenue and sales for the year ended December 31.

Its revenue was Rp13.9 trillion ($US2 billion), with sales up 2.5 per cent from Rp13.6 trillion in 2014. Its net income came in at Rp183 billion, giving it an operating profit of Rp268.8 billion, or 1.9 per cent of sales.

CEO Noel Trinder says that despite the economic difficulties, the group continued its strategic direction of expanding business through new or enhanced formats.

As well as continuing its Hypermarket G7 rollout, Matahari PP also revamped its Foodmart and Bostonformats, and launched the SmartHub and FMX concept debuts formats on the wholesale side.

MPPA opened 33 outlets during the year, and now has 293 multi-format stores. Four G7 stores opened, and eight stores were remodelled to the concept.

One of Indonesia’s largest retailers, Matahari PP has more than 30,000 employees in 112 hypermarkets, 23 supermarkets (Foodmart and Primo/Fresh), 49 minimarket/convenience stores (FMX), 108 health and beauty stores (Boston) and its wholesale outlet (SmartClub).

In total, it has 293 stores in 68 cities throughout Indonesia.