Matahari has strong half

Indonesia’s PT Matahari Putra Prima (MPPA) says its first half year sales rose 6.6 per cent on the back of new stores.

Like for like sales rose 2.1 per cent in a period of softening economic conditions and when several stores were closed for renovation.

Matahari has continued with a strong focus on upgrading its store formats, rolling out its new G7 format with brighter, more upmarket store designs and increased range. It also opened the first of its new Foodmart Primo format stores during the half year.

In the next six months Matahari will open the first of another new concept – a SmartClub wholesale store.

Operating profit surged 29.4 per cent in the half (excluding extraordinary items) as the retailer continued to improve its infrastructure, boosting internal efficiencies and developing a solid platform for future growth.