JAKARTA (Yosefardi) – Investors focused buying shares of retailer PT Matahari Department Store Tbk (LPPF) this morning, boosting the stock to gain 6.53% to Rp16,725 per share at 10.18 am Jakarta time this.
LPPF has gained 29.6% since its lowest in past one year. The stock touched its lowest at Rp12,900 per share in March 2`, 2014. It reached its peak at Rp17,025 in September 29, 2014.
LPPF booked net income of Rp1.42 trillion in 2014, grew by 31% from Rp1.15 trillion in 2013. Gross sales were Rp14.42 trillion, a 13.2% increase over 2013. Net revenue was Rp7.92 trillion, 17.3% higher than 2013.
The full year strong same store sales growth of 10.7% in 2014 reflected the continued strong demand from the Company’s target middle income segment.
The Company continued to repay its debt on an accelerated basis, with its balance decreasing to Rp700 billion as of the end of 2014, a reduction from Rp1.6 trillion at the end of 2013.