First Quarter of 2024, Matahari Putra Prima (MPPA) Reduces Losses by 70%

LISTED COMPANY - JAKARTA. PT Matahari Putra Prima Tbk (MPPA) has shown an improved performance in the first quarter of 2024.

The net sales of MPPA throughout the first quarter of this year increased by 10.6%, amounting to IDR 1.98 trillion, compared to IDR 1.79 trillion in the same period in 2023. This performance was driven by the momentum of the Ramadan month, which led to an increase in customer traffic.

MPPA also enhanced its operational and productivity levels, resulting in savings of IDR 50 billion.

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As a result, MPPA's net loss in the first quarter of 2024 was reduced by 70%, down to IDR 30 billion from a net loss of IDR 100 billion in the same period last year.

“This achievement reflects the company's commitment to continuous improvement in line with the company's strategic objectives, and is reinforced by the increase in the number of visitors during the month of Ramadan,” said Adrian Suherman, President Director and CEO of MPPA in a written statement, Tuesday (30/04). 

Going forward, MPPA will continue to optimize its store network and resume expansion to broaden its presence in various regions. In line with this strategy, MPPA inaugurated its first store at Istana Plaza Bandung at the beginning of 2024.