Retailer Matahari Putra Prima (MPPA), the largest Indonesian hypermarket operator, suffered a loss of Rp91.5 billion in the first half (H1) of 2021, significantly narrowed from a loss of Rp219.25 billion in the corresponding period of 2020, thanks to lower expenses. Sales declined 2.8% year on year (y/y) to Rp3.54 trillion, but the cost of sales was maintained at Rp2.9 trillion. Then gross profit fell 13.7% to Rp627.8 billion. While selling expenses declined 34.85% to Rp114.5 billion, general & administrative expenses fell 26% to Rp507 billion. Finance costs also declined 7.2% to Rp129.8 billion.
To subscribe please click here
