REPUBLIKA.CO.ID, JAKARTA -- Hypermarket operator, Matahari Putra Prima reported net income on 2013 grew 85.8 percent or 445 billion IDR. Company's strong earning growth was driven by revenue growth of 11.1 percent or 12.56 trillion IDR.

"Our net income from food business increased 115 percent," Director of Matahari Putra Prima, Danny Konjogian said on Wednesday as reported by Friska Yolandha.

The high growth in net income was triggered by a decrease in selling expenses. In a financial statement to Indonesia Stock Exchange (IDX), company reported that its selling expenses fell 25.6 percent to 241 billion IDR. Matahari currently operates 222 stores consisting of 99 hypermart, 29 foodmarts and 94 Boston Health and Beauty. All stores are spread across 63 cities in Indonesia.

In 2013, company has opened at least 39 new stores. Company recorded liabilities worth 3.28 trillion IDR by the end of December 2013. This value dropped by 25 percent compared to 2012. Matahari's equity reached 3.29 trillion IDR by the end of the year, while its total assets stood at 6.57 trillion IDR.

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