MAP Business Growth of 17 for 2007

Indonesia’s top lifestyle retail marketing company, PT Mitra Adiperkasa Tbk (MAP) has announced its financial result for full fiscal year ended 31st December 2007.

Ratih D. Gianda, Group Head of Investor Relations at MAP said, “MAP has delivered significant improvement in our result for full year 2007. It is pleasing to note that our restructuring and cost cutting initiatives have yielded positive outcome resulting in 31% increase in our operating profits.

We launch few new concepts in 2007 (SEIBU, Giorgio Armani, Emporio Armani, Chloe, Burger King, Cold Stone Creamery and Habitat, etc) – and soon to come, Harvey Nichols in August 2008 – we expect to further consolidate our position as the leading lifestyle retail marketing company in Indonesia.”

The company posted record revenue of Rp 3,886 billion a 17% jump over 2006’s total of Rp 3,333 billion. Gross profit was Rp 1,497 billion – a 18% increase over the Rp 1,270 billion achieved in full year 2006. Operating profit increased from Rp 196 billion to Rp 257 billion a 31% increase over 2006. However, due to the unrealized foreign exchange loss attributable to its foreign currency loan – the net profit after tax increased only 6%. Full year 2007 net profit was Rp 115 billion.

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