Matahari Departement Store managed to generate Rp 1.37 trillion in net profit in 2019
JAKARTA - PT Matahari Department Store Tbk (LPPF) managed to generate Rp 1.37 trillion in net profit in 2019, 24.56% higher than the figure recorded in 2018 of Rp 1.10 trillion.
Based on the company's financial statements published on the IDX on Thursday (27/2), the company's revenue was recorded at Rp 10.28 trillion, slightly higher than the company's revenue in 2018 of Rp 10.25 trillion. However, the company's cost of revenue also rose 6.54% from Rp 3.87 trillion to Rp 4.12 trillion, resulting in gross profit lowered by 3.48%, from Rp 6.38 trillion to Rp 6.16 trillion.
The company managed to record operating profit growth of 15.14% (Rp 1.57 trillion to Rp1.79 trillion), partly because the company did not record impairment loss on investment in equity instruments, after losing Rp 769.77 billion in 2018.
Finally, the company's pre-tax profit also rose from Rp 1.58 trillion in 2018 to Rp 1.76 trillion in 2019. (ARM/AR)