Indonesian retail distributor company for medium-high brands, Mitra Adiperkasa (MAP), recorded profit growth of 78% to $3.5 million (46.3 billion IDR) from $1.9 million (26 billion IDR) in the same period last year. One of the reasons for this increase, as reported by Bisnis.com, is the company’s venture to ecommerce.
MAP, who has more than 150 brands under its management, launched its ecommerce site MAP eMall last year.
The company’s investment through ecommerce has created more productivity, efficiency and increased their profit margin – Corporate secretary of MAP, Fetty Kwartati
She also added that the achievement in the first semester of 2016 is also supported by strong consumer spending during the month of Ramadan. She claimed the increase in demand is also because the brand is getting more recognition.
According to Bloomberg, MAP profit until the end of the year is projected to reach $14.6 million (192.4 billion IDR), growing 415.36% from last year at $2.84 million (37.33 billion IDR). Revenue projection for MAP will reach $1.1 billion (14.19 trillion IDR), growing 10.59% year-on-year.
In the financial statements, the company state that their net income until June 2016 has reached $502.2 million (6.66 trillion IDR), up 9.18% from $464.2 (6.1 trillion IDR) YOY.
The company’s revenue mostly came from retail and wholesale sales worth $462 million (6.07 trillion IDR), an increase of 9.56% from the same period the year before $421.5 million (5.54 trillion IDR).
A version of this appeared in Bisnis.com on August 3. Read the full article in Bahasa here.