JAKARTA - PT Multipolar Tbk (MLPL) announced its 2019 consolidated financial statement, by recording a net sales of Rp 12.2 trillion and gross profit margin of 19.8%.
As written in the MLPL press release, last year the company increased its focus as an investment company and consolidated operations in various business lines to increase efficiency and reduce costs, including reducing funding costs by making initial payments of bank loans.
The company's business line, Matahari Putra Prima (MPPA) as of the end of 2019 operated 222 stores in 73 cities throughout Indonesia, and recorded net sales of Rp 8.7 trillion. Matahari Department Store (LPPF) in 2019 succeeded in adding 3 large format (department stores) and 8 specialty stores with gross sales reaching Rp 18 trillion.
In the TMT segment, Multipolar Technology (MLPT) recorded a slight increase in net revenue by 0.8% to Rp 2.4 trillion and an increase in net profit by 48.3% to Rp 125.2 billion. In other business segments, Multifiling Mitra Indonesia (MFMI), through records management services, securities, facility management and computer data, recorded a net revenue growth of 15.1% to Rp 140.1 billion.
At the end of 2019, MLPL recorded a loss for the year of Rp 866.1 billion, an improvement from the loss suffered in 2018 amounting to Rp 1.2 trillion. (LM)