Home / Knowledge / News / Apparel/Garments / MAP profit jumps 79% in 2011
MAP profit jumps 79% in 2011
29
Mar '12
Indonesia's leading lifestyle retailer, PT Mitra Adiperkasa Tbk (MAP) announced its financial results for full year 2011.

For full year 2011, the company posted record net revenue growth of 25% to Rp 5,890 billion - up from the Rp 4,712 billion achieved in 2010. Operating profit grew 39% from Rp 449 billion to Rp 622 billion. Net profit jumped from Rp 201 billion to Rp 360 billion - a massive 79% increase over 2010.

Commenting on the full year 2011 results, Fetty Kwartati, Corporate Secretary of MAP said: "2011 was an exceptional year for MAP. Our same-store growth was a strong 14% as Indonesia surges ahead on a wave of spending by a growing middle class. With a portfolio of over 100 international brands, MAP is poised to reap the full benefit of this rising tide. For 2012, we have set aside a capex of Rp 600 billion with plans to add 60,000 sqm to our total retail footage which currently stands at 467,503 sqm. Looking ahead, we are truly excited about our future."

All in all, MAP opened a net total of 190 new stores in 2011 - including new retail concepts: Max&Co, Stradivarius, Bershka, Pandora, New Look, BCBG Maxazria, Payless and Travelogue.

As part of its growth strategy, MAP launched another two new concepts in the first quarter of 2012: Spanx and DKNY. The First DKNY store opened in the first week of March in Plaza Indonesia.

A multi-award winning company, MAP was listed in Forbes Indonesia's A-list of "Top 40 Companies in Indonesia" and Fortune Indonesia's "Most Admired Companies in Indonesia (Top 20)" in 2011. The share price of MAP was quoted by Bloomberg as the "Best Retail Performer in the World" with 641% rise between July 2010 and July 2011. Currently, MAP is the no. 1 Lifestyle Retailer in Indonesia with a portfolio of over 100 international brands and a retail network of 1,062 stores in 38 cities.

PT Mitra Adiperkasa Tbk (MAP)


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search