Jakarta, 27th April 2011 - Indonesia's leading lifestyle retailer, P.T. Mitra Adiperkasa
Tbk (MAP) today announced its financial result for first quarter ended 31st March 2011.
Operating profit jumped 56% to a record Rp 82 billion - up from the Rp 53 billion
achieved in the first quarter of 2010. Net profit grew 45% from Rp 30 billion in the
corresponding period in 2010 to Rp 44 billion. Net revenue after cost of consignment
sales increased 21% from Rp 1,048 billion to Rp 1,269 billion.
Commenting on the first quarter 2011 results, Fetty Kwartati, Corporate Secretary of
MAP said, "We had a good first quarter. Our results truly demonstrate the power of our
brands and our three-fold strategy of focusing on our existing brands, maximizing their
potential and targeting at the middle upper income group. Given the huge customer base
and growing affluence, this customer segment offers unlimited potential for our portfolio
of over 90 world class brands."
As at end March 2011, MAP has a total of 887 stores in 25 cities throughout Indonesia
with total retail footage of 425,721 sqm. New international concepts launched by the
Group in the first quarter of 2011 include Stradivarius, Bershka and Payless. Stradivarius
and Bershka are both located at Plaza Indonesia and Central Park while Payless can be
found at Central Park, Blok M Plaza and soon, Plaza Semanggi.
Like the iconic Zara, both Stradivarius and Bershka are a part of the world-renowned
Inditex Group of Spain. Recognized by 99% of women in the USA, Payless is the largest
footwear specialty retailer in the Western Hemisphere with sales of over USD 3 billion in
2010 - selling one out of every 10 pairs of shoes sold in the USA.
Tbk (MAP) today announced its financial result for first quarter ended 31st March 2011.
Operating profit jumped 56% to a record Rp 82 billion - up from the Rp 53 billion
achieved in the first quarter of 2010. Net profit grew 45% from Rp 30 billion in the
corresponding period in 2010 to Rp 44 billion. Net revenue after cost of consignment
sales increased 21% from Rp 1,048 billion to Rp 1,269 billion.
Commenting on the first quarter 2011 results, Fetty Kwartati, Corporate Secretary of
MAP said, "We had a good first quarter. Our results truly demonstrate the power of our
brands and our three-fold strategy of focusing on our existing brands, maximizing their
potential and targeting at the middle upper income group. Given the huge customer base
and growing affluence, this customer segment offers unlimited potential for our portfolio
of over 90 world class brands."
As at end March 2011, MAP has a total of 887 stores in 25 cities throughout Indonesia
with total retail footage of 425,721 sqm. New international concepts launched by the
Group in the first quarter of 2011 include Stradivarius, Bershka and Payless. Stradivarius
and Bershka are both located at Plaza Indonesia and Central Park while Payless can be
found at Central Park, Blok M Plaza and soon, Plaza Semanggi.
Like the iconic Zara, both Stradivarius and Bershka are a part of the world-renowned
Inditex Group of Spain. Recognized by 99% of women in the USA, Payless is the largest
footwear specialty retailer in the Western Hemisphere with sales of over USD 3 billion in
2010 - selling one out of every 10 pairs of shoes sold in the USA.