MAP Active Results Surge in First Year as a Public Company
Comprehensive net income at the Indonesian multi-banner retailer increased 31% to IDR 381,848 million ($26.8 mm) from IDR 292,593 million in 2018 on 23% higher revenues of IDR 6,245,547 million ($438.7 mm) up from IDR 5,076,181 million including +11.8% same store sales growth. Adjusted net income, which excludes the impact of the company’s zero interest bond and other items, surged 38% to IDR 631 billion. Retail sales expanded 27% to IDR 5,408 billion and generated 44% higher operating income of IDR 776 billion. Retail gross margin was up 140 basis points to 38.4%. The apparel manufacturing business grew by 3% ... Log in to view full article.