JAKARTA - Net revenue of PT Map Aktif Adiperkasa Tbk (MAPA) for the first nine months of 2019 rose 19% to Rp 5.4 trillion. In the third quarter alone, the company recorded net revenue of Rp 1.9 trillion, up by 17.3% on an annual basis.
MAPA's Same Store Sales Growth rose 8% in the first nine months of this year. Gross profit margin in 9M 2019 rose 80 basis points to 46.1%. While operating profit rose 17% to Rp 758 billion and net profit grew to Rp 552 billion.
Ratih D. Gianda, Corporate Secretary of MAPA said, “Our successful Q3 was due to a continued progression of our unique Multi-Tier retail strategy across both physical and digital stores. This maximizes our brands sell through by stretching a wider variety of products, across a diverse breadth of 1100+ retail doors nationwide, plus an ever increasing volume of direct to consumer (DTC) shoppers via our Digital stores. These moves, coupled with strong focus on Process, Data Analytics and Planning, are truly allowing MAPA to fulfil its true potential to its shareholders”
Until September 2019, the total of MAPA's retail network area reached 231,898 m2 and 1,133 outlets. Inventory days were reduced to 167 days, accompanied by an increase in margins to enable the achievement of annual inventory levels as predicted earlier this year. (LM)