Retailer Matahari Department Store (LPPF) booked a net profit of Rp143 billion in the first quarter (Q1) of 2019, dropped 42.2% from Rp247 billion in the corresponding period of 2018. Gross sales only declined 1.5% year on year (y/y) to Rp3.32 trillion, and gross profit declined 3.6% to Rp1.17 trillion. Same-store sales also declined by 1.7%. Ebitda, however, fell 27.8% to Rp287 billion from the previous year Rp398 billion.
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