Matahari Putra Prima’s Q1 Revenue Rises 60% on Larger Gross sales
In this article (5)
Matahari Putra Prima — the operator of Hypermart, Foodmart and the Boston Well being & Magnificence retail chain — posted 60 % achieve in revenue within the first quarter, because of regular progress in gross sales.
Internet revenue rose to Rp 81.6 billion ($6.three million) within the January-March interval from Rp 51.zero billion in the identical quarter final yr, the corporate stated in a press release final week. Internet gross sales rose 7.1 % to Rp three.35 trillion.
“We’re happy with our internet revenue leads to the primary quarter regardless of a really difficult gross sales surroundings. our enterprise benefited from the productiveness measures taken and realization of expense saving packages initiated in mid-2015 by the administration staff,” stated MPP chief government officer Noel Trinder.
MPP’s same-store gross sales progress, nevertheless, was 1.eight % decrease because of weak financial progress and aggressive setting amongst present shops in operation, the corporate stated.
In the course of the quarter, MPP opened 14 new shops together with two for Hypermart, one Foodmart grocery store, 9 Foodmart Categorical and two Boston shops.
These added to MPP’s 267 shops (107 Hypermart, 58 Foodmart and 102 Boston) in 67 cities throughout Indonesia as of Dec. 31 2014.
Questions & Answers
Q.What factors did Matahari Putra Prima identify as contributing to its increased net income in the first quarter?
What factors did Matahari Putra Prima identify as contributing to its increased net income in the first quarter?
The company stated that its business benefited from productivity measures and expense-saving programmes initiated by the management team in mid-2015. This helped increase net income despite a challenging sales environment.
Q.Why did Matahari Putra Prima experience a decrease in same-store sales growth during the first quarter?
Why did Matahari Putra Prima experience a decrease in same-store sales growth during the first quarter?
The company reported that its same-store sales growth was 1.8% lower. This was attributed to weak economic growth and a competitive environment among its existing operational stores.
Q.How many new stores did Matahari Putra Prima open in the first quarter, and what types of stores were they?
How many new stores did Matahari Putra Prima open in the first quarter, and what types of stores were they?
Matahari Putra Prima opened 14 new stores during the quarter. These included two Hypermarts, one Foodmart supermarket, nine Foodmart Express outlets, and two Boston Health & Beauty stores.
Q.What was the total number of stores Matahari Putra Prima operated across Indonesia before the new openings in Q1?
What was the total number of stores Matahari Putra Prima operated across Indonesia before the new openings in Q1?
As of 31 December 2014, Matahari Putra Prima operated 267 stores across 67 cities in Indonesia. These consisted of 107 Hypermarts, 58 Foodmarts, and 102 Boston stores.
Reader pulse
Are MPP's Q1 results sustainable?
19,554 votes so far