Reporter: Kenia Intan | Editor: Yudho Winarto
KONTAN.CO.ID – JAKARTA. Retail issuer PT Matahari Department Store Tbk recorded unsatisfactory performance during the first quarter of 2020. Top line and bottom line the issuer with the LPPF code is equally corrected up to two digits.
During the first three months of 2020, LPPF posted a net income of up to Rp 1.55 trillion, down 19.69%. In the same quarter of the previous year, LPPF was able to record revenues of up to Rp 1.93 trillion.
Read Also: Matahari Department Store (LPPF) has opened 92% of stores, analysts suggest hold
In its financial statements, retail sales which underpinned LPPF’s revenue were seen to decrease by 22.32% year on year (YoY) to Rp 976.77 billion.
Meanwhile, net consignment sales also decreased 16.09% YoY to Rp 535.36 billion. Only the towed service revenue rose to 16.11% YoY to Rp 37.04 billion.
Quoting information disclosure, Tuesday (6/30), LPPF trade in early March was actually still good. However, trade declined dramatically in mid-March 2020 due to the Covid-19 pandemic.
Although the cost of LPPF’s revenue could be reduced by 13.74% YoY to Rp 631.4 billion. LPPF’s gross profit remained corrected to Rp 917.77 billion from the previous Rp 1.2 trillion.
DONATE, Get Free Vouchers!
As an expression of thanks for your attention, there is a free voucher worth a donation that can be used to shop at KONTAN Store.
– –
