Jakarta - PT Matahari Department Store Tbk (LPPF), until the first semester of 2022, posted a profit attributable to owners reaching Rp918.37 billion, an increase of around 72.46% compared to the same period the previous year of Rp532.48 billion.

The company's financial report published Friday (7/22) showed the increase in profit was supported by revenue growth of around 5.37%, to Rp3.76 trillion from Rp3.56 trillion.

LPPF's cost of revenue was also reduced by around 7.48% to Rp1.19 trillion from Rp1.29 trillion.

In addition, LPPF managed to reduce operating expenses by around 7.16% to Rp1.43 trillion from Rp1.55 trillion.

The company also managed to pocket another net profit of Rp131.96 billion from the previous loss of Rp3.35 billion.

Until the first semester of 2022, LPPF's total assets were recorded at Rp5.23 trillion, with Rp378.82 billion in equity and Rp4.85 trillion in liabilities.