Sun Profit Up 68% In Six Months, Reaches Rp 265 Billion

PT Matahari Department Store Tbk (LPPF) net profit to Rp 265 billion in the semester 1-2013, grew 68.3% compared to Rp 157 billion in the same period last year. The rise in profit was in line with revenue growth of turnover alias.

The sun gross sales in Semester 1-2013 Rp 5.16 trillion, 19.4% higher than the previous year of Rp 4.32 trillion. While net income reached Rp 2.741 trillion, 23.1% higher than Rp 2,226 trillion in the past year.

According to the press release the Sun, Thursday (01/08/2013), the growth was the result of an increase in the company’s customer segments, increase in disposable income and improvements in product offerings sold.

Sun currently has 121 outlets in 58 cities in Indonesia, including 5 new stores opened in the second quarter of 2013, ie in Surabaya, Palangkaraya, Palembang, Palopo, and Cibubur.

The Company has made voluntary bank debt in March 2013 amounting to Rp 700 billion, and pay back bank debts voluntarily today at Rp 400 billion, bringing the total debt down from Rp 2.369 trillion at the end of June 2013 to Rp 1,969 trillion.

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