Mar 23, 2011

Mitra Adiperkasa FY10 profit up 22.61%

Starbucks Coffee license holder PT Mitra Adiperkasa Tbk (MAPI) today reported a 22.61% increase in net income as a result of higher net revenue.
In a financial statement published today, the retailed posted IDR201.07 billion net income last year from IDR163.99 billion in the previous year.
Adding to that, operating profit rose 45.94% to IDR449.09 billion from IDR307.72 billion. However, its operating margin slightly increased to 9.53% from 7.48%.
Gross profit advanced 15.53% to IDR2.38 trillion from IDR2.06 trillion.
Mitra Adiperkasa booked IDR4.71 trillion net revenue, a 13.66% increase from IDR4.11 trillion. But, its cost of goods revenue rose 15.53%, higher than the revenue growth, to IDR2.33 trillion from IDR2.05 trillion.
Mitra Adiperkasa manages four main business such as department stores, specialty stores, food and beverage, and others.
In the department stores segment, Mitra Adiperkasa manages Sogo, Seibu, Debenhams, Lotus/Java.
In the specialty stories, consisting sports, fashion and lifestyle, and chilren, MAPI manages famed brands such as Zara, Next, OshJOsh B'Gosh, Kipling, and others. Licenses of Starbucks Coffee and Burger King are run by Mitra Adiperkasa.

Disclosure: No position at the stock mentioned above.

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