MAPI - Strong performance in 1H23

Mitra Adiperkasa' (MAPI) 2Q23 revenue grew 23% yoy to IDR8.1 tn on the back of higher sales yoy from all business segment (retail, department stores, café and restaurant, other sales). As a result, MAPI' 1H23 topline grew 27.3% yoy to IDR15.6 tn and came slightly above consensus (51% of cons). Albeit 1H23 net profit declined 5.5% yoy, MAPI' 1H23 core net profit (without one-off in 1Q22) still grew 31.4% yoy. (Source: Bisnis.com)