MAP Active Sees Profits Down, but Sales Up to Finish the Year
The largest sporting goods retailer in Indonesia results lagged in the final quarter as net income attributable to shareholders was 32% lower to IDR 252,378 million ($16.0 mm) from IDR 371,809 million, despite 20% higher revenues of IDR 4,764,545 million ($301.6 mm) from IDR 3,974,392 million. Gross margin contracted 300 basis points to 45.1%, and SG&A increased 17% in rupiah, but leveraged 70 b.p. to 32.8% of sales. At period end, MAPA operated more than 2,000 mono-and multi-brand stores and 30 online sites across the ASEAN region, selling over 40 exclusive ... Log in to view full article.
