Growth in All Segments
MAPI posted the growth of 60.5% y-y into IDR334.65 billion in 2017 net profit. The growth of 17.9% y-y in retail sales and 20.7% y-y respectively posted by the retail sales segment and the café and restaurant segment sent MAPI’s revenue soaring by 15.2% y-y. Likewise, the department store segment posting slump in 2016 sales succeeded in posting the growth of 1.2% y-y in 2017’s sales. In fact, the decrease in inventory days from 167 days in 4Q16 into 137 days in 4Q17 was another positive performance it accomplished.
Contribution of Vietnam Markets
Its 2016-initially-expaned business in Vietnam contributed 2017 revenue of IDR707 billion equal to 4.3% from the overall revenue. The figures topped the revenue of IDR322 billion contributed by its Thailand-based business.
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