PT Matahari Department Store Tbk (LPPF), previously known PT Pacific Utama, reported a 48.27% increase in net profit for the first quarter of this year as a result of net revenue growth.
Matahari posted Rp118.59 billion net profit or Rp41 per share in 1Q 2011 from Rp79.98 billion net profit or Rp27 per share. Operating profit increased 51.91% to Rp155.72 billion from Rp102.51 billion. Net revenue grew 13.73% to Rp881.27 billion from Rp774.90 billion.
Disclosure: No position at the stock mentioned above.
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