Live Chat Software
Berita Dan Riset Terbaru
Consumer Confidence
Company Update: MAPI
January 15, 2015 09:11

While the full 2014 financial result will only be published in March, MAPI has just announced its unaudited operational result. It is inline, with growth in the 2014 gross sales and net sales of 17.7% and 20.7%, respectively. Due to seasonality, December unsurprisingly posted the strongest monthly performance. Expansion took the back seat in 2014 as the company focused on improving its cash flow. All in all, we believe that the company will show improved performance this year with a lower inventory level and higher profitability. BUY recommendation maintained with a Target Price of Rp6,250.