Matahari Department Store as One of 100 Fastest Growing Companies Based on The Research By Infobank Magazine
26 January 2018 - PT Matahari Department Store Tbk (“Matahari” or the “Company”; stock code: “LPPF”) continue to show its consistency in giving its best working performance and received an award as one of 100 Fastest Growing Companies. The award was received by Miranti Hadisusilo, Corporate Secretary & Legal Director of Matahari on Tuesday, 25 January 2018 at Indonesia Stock Exchange (IDX) building. 2018 is the second year for Matahari to receive this award which proves that Matahari has a good performance and keep showing positive growth.
As Indonesian capital market growing older, Infobank Magazine committed to keep supporting this industry to be better in the future. Infobank Magazine embodied its support through Infobank Research Bureau by conducting a research toward public companies, especially non-financial and non-State Owned Company, which are listed in IDX in the last 5 (five) years. Infobank Research Bureau with editorial board, practitioners of listed company, and capital market observer then discussed to determine the parameters. In general, there are 2 (two) parameters used, which were growth and financial ratio. For growth parameter, the committee has set 2 crucial criteria, asset growth and profit growth in the current year. For key financial ratios consist of liquidity ratio with current ratio as the indicator; solvability ratio with ratio of liability on current asset and ratio of liability on equity as indicators; efficiency ratio with comparison between operational cost and operational income as an indicator; and lastly, profitability ratio with ratio of net income on revenue, ratio of return on average asset (ROA), and ratio of return on average equity (ROE) as indicators.
After setting the parameters and/or criteria as well as the score for each criteria used in the research, Infobank Research Bureau team then conducted the financial data entry needed based on the Financial Statement from each company which then validated by the team. The data were then processed to obtain the score for each criterion with the predefined formula.
From 355 public listed companies in IDX, Matahari received an award as one of 100 Fastest Growing Companies. Matahari is in the category of retail, services, and transportation with the total score of 96.80. This award shows that Matahari once again successfully delivered a good performance in 2017 and this award also expected to increase public trust towards Matahari.