Bisnis.com, JAKARTA — Department stores such as PT Matahari Department Store (LPPF) and PT Ramayana Lestari Sentosa (RALS) posted an increase in financial performance throughout last year amid purchasing power slump in Indonesia.
Earnings reports show an increase in FY2024 profits for both companies, with Matahari posting markedly higher figures in profit and revenue than Ramayana. In detail, Matahari booked net profit of IDR 827.6 billion, up 22.5% year-on-year (YoY) from the previous year’s IDR 675.3 billion.
