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

Indian govt approves special package for leather, footwear

Textiles | On 16th Dec 2017

Indian govt approves special package for leather, footwear

The Union Cabinet chaired by PM Narendra Modi has approved a special...

EU parliament resolution calls for Cambodia sanctions

Apparel/Garments | On 16th Dec 2017

EU parliament resolution calls for Cambodia sanctions

Following the ongoing crackdown in Cambodia on the opposition and...

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Top executives
Textile & apparel bodies

The decision is transformational

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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