MATAHARI DEPARTMENT STORE REPORTS GROSS SALES OF RP 3,368 BILLION.
Highlights 1st Half 2018:
Total gross sales of Rp 10,370 billion, grew 3.5% over 1st Half 2017
Same store sales growth (SSSG) of 4.6%
Net income of Rp 1,345 billion, 0.5% above 1st Half 2017
PT Matahari Department Store Tbk (“Matahari” or “the Company”; stock code: “LPPF”) reported 1st Half 2018 gross sales of Rp 10,370 billion, increasing 3.5% from Rp 10,017 billion in 1st Half 2017, whilst net revenue increased by 3.1% to Rp 5,915 bilion and net income was Rp 1,345 billion, 0.5% above 1st Half 2017. Same store sales growth (SSSG) of 4.6% was driven predominantly by a solid lebaran sales following a more targeted promotional campaign and enhanced merchandise offerings.
Matahari currently operates 155 stores in 74 cities across Indonesia, having opened 2 new stores in the 1st Half 2018, in Mamuju (Sulawesi) and Cilegon (West Java), and also offers its merchandise on-line at Matahari.com. The Company anticipates opening 1 to 2 new stores in the second half of 2018.
On 30 May 2018, Matahari paid its final dividend for 2017 of Rp 1.3 trillion or Rp 457.5 per share, equivalent to 70% of Matahari’s 2017 Net Income.
Richard Gibson, CEO and Vice President Director of the Company said, “Our first half results show the importance of putting customer satisfaction as an integral part of our strategy. Going forward, an ongoing focus to improve the value and relevancy of our merchandise offerings, promotions and overall shopping experience should help spur the growth of our business.