1Q18 Buoyant Top Line Performance
MAPI succeeded to secure the 1Q18’s revenue of IDR4.3 trillion (+19.3% y-y). Of note, the retail sales segment — a major segment — snapped a higher growth of 23.9% y-y into IDR3.1 trillion. The growth likely persists until 2Q18 along with the 2018’s Lebaran sales performance beefing up 20% compared to the 2017’s Lebaran performance. Furthermore, the 1Q18’s same store sales growth (SSSG) reached 8%; the 1Q18’s sales contributed by Vietnam-based stores edged up 7.2%.
The buoyant top line performance was entwined with the outstanding growth of 499.1% y-y to IDR351 billion in the 1Q18 net profit. However, a steep surge in net profit stemmed from the land sales profit amounting to IDR233 billion.
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