MAPI - A net profit of IDR1.76 tn in 2024

MAPI - A net profit of IDR1.76 tn in 2024 Mitra Adiperkasa (MAPI) recorded a solid sales growth of 13.6% yoy to IDR37.8 tn in 2024, supported by the strong performance of its retail segment. However, MAPI recorded a 6.7% yoy decline in net profit to IDR1.76 tn due to rising operational and financial expenses. Increasing salary and rental costs weighed on margins, with rental-to-sales ratio climbing to 4.4% yoy. Aggressive discounting to reduce old inventory further pressured gross profit margin. Going forward, MAPI plans to improve its merchandise planning strategy and invest in high-performing and exclusive products to expand margins without relying heavily on discounts. However, macroeconomic uncertainties and geopolitical risks have led to more conservative sales and profit growth projections for 2025–2026, with sales expected to grow 9% annually, down from earlier estimates. (Source : Kontan)