REPUBLIKA.CO.ID, JAKARTA - Indonesia's largest department store, PT Matahari Putra Prima plans to add 16 stores for its subsidiary, Hypermart. Currently, company has 84 stores across Indonesia.

Sales contribution of Hypermart food division has the lion's share to PT Matahari Putra Prima's. The company gained revenue worth 5.5 trillion IDR until June 2013 and it is fully acquired from food sales division.

Corporate Communication of PT Matahari Putra Prima, Danny Kojongian said food division represented growth of 15.4 percent compared to the same period last year. Consolidated gross profit grew 24.5 percent year on year at a level of 852.4 billion IDR. Operating income grew 157.3 percent at a level of 295.1 billion IDR.

"Since we launched the Hypermart brand in 2004, its food division recorded annual growth rate (CAGR) of 27.9 percent," Kojongian said on Thursday.

During the first half of 2013, company managed to pay off bank debt worth 1.6 trillion IDR. PT Matahari Putra Prima has also paid dividents to its shareholders worth one trillion IDR. Profit before tax worth 293.8 billion IDR and earning per share increased from 14 IDR per share to 41 IDR per share. PT Matahari Putra Prima has opened six outlets in Jakabaring Palembang (South Sumatra), Ambon (Maluku), Kuta (Bali), Mataram (West Nusa Tenggara), Siantar (North Sumatra) and Tegal (East Java). 

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