Hypermart currently operates 90 branches throughout Indonesia and continues to expand to new cities. Photo: Bloomberg
Matahari Putra Prima has inaugurated its 90th Hypermart in Ponorogo, East Java, part of the company’s expansion plan nationwide.
Danny Kojongian, director of communications at MPP said in a statement on Friday that the Ponorogo outlet, situated on a 5,000-square-meter plot, is the 13th Hypermart in East Java and the ninth outlet inaugurated this year.
He said this outlet is part of MPP’s target of opening 20 new outlets a year, and said he was optimistic that by the end of 2013 Hypermart would operate 100 outlets.
Danny said Hypermart continues its efforts to expand to new cities in Indonesia, especially in the eastern regions, which he says are “growing fast and have bright prospects.”
In East Java, Hypermart already operates five outlets in Surabaya, the capital of the province, one each in Madiun, Kediri, Gresik, Sidoarjo, Batu Malang, Bangkalan and Madura.
The upcoming inauguration will happen in Pangkal Pinang in Bangka-Belitung island, Bogor in West Java province and Yogyakarta province.
MPP operates one of the most extensive retail networks in Indonesia, and apart from a growing number of Hypermart outlets, it operates 28 Foodmarts, 88 Boston Health Centers, 100 Timezones and 27 Books & Beyond in more than 52 cities across Indonesia.
The company has undertaken a strategic separation of its non-core assets, divesting them to affiliated holding company Multipolar via a sale of shares.
MPP’s net income rose 165 percent to Rp 221.8 billion ($19 million) in the first half of the year from the same period in 2012, thanks to strong sales from its food division. Total sales from the foods division, which made up more than 90 percent of MPP’s total sales, rose 15 percent in the January-June period from Rp 4.7 trillion in the same period last year.
Since launching the Hypermart brand in 2004, MPP’s food division has generated a compound annual growth rate on gross sales of 27.9 percent, becoming the cornerstone of the company’s business focus.
Credit: Jakarta Globe