Apr 18, 2011

Mitra Adiperkasa 1Q revenue rises 20%

Retailer PT Mitra Adiperkasa Tbk (MAPI) is estimated to post Rp1 trillion revenue in the first quarter of this year, reflecting a 20% increase from Rp883.4 billion a year earlier.
Mitra Adiperkasa Corporate Secretary Fetty Kwartati, as quoted by Investor Daily, said the achievement was in line the additional outlets this year.
At end of March 2011, MAPI has opened 33 new outlets, adding to 887 outlets from 854 outlets at end of last year.
Following the first quarter performance, MAPI is optimistic to reach a 20% increase in revenue target to Rp5.64 trillion. The company plans to spend Rp350 billion capex this year.

Disclosure: No position at the stock mentioned above.

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