Jakarta - PT Matahari Department Store Tbk (LPPF) throughout 2021 posted a profit attributable to owners reaching Rp912.85 billion, reversing from the same period the previous year, a loss of around Rp828.18 billion.

In the financial report released on Wednesday (2/3), the profit achievement was in line with the growth in net income of around 15.41%, to Rp5.58 trillion from Rp4.83 trillion.

The company also managed to reduce the cost of revenue to Rp2.006 trillion from Rp2.008 trillion.

In addition, the company was able to record an operating profit of Rp1.12 trillion from the previous loss of around Rp870.03 billion.

The company's financial burden was reduced by more than double, to Rp36.71 billion from Rp81.70 billion.

The company's total assets amounted to Rp5.85 trillion until the end of December 2021, with cash and cash equivalents totaling Rp661.39 billion at the end of the period.