PT Matahari Department Store Tbk (LPFF) in the first three months of the year posted a net income of Rp1.16 trillion, down 24.97% compared to the previous year Rp1.54 trillion.

Based on the financial reports per March 2021, retail revenue experienced a correction of 24.09% on an annual basis (YoY) to Rp741.40 billion, net consignment sales fell 22.29% YoY to Rp416.01 billion, and service revenues fell 86.96% YoY to Rp4.83 billion.

Meanwhile, the loss attributable to owners of the parent company increased 1.49% to Rp95.35 billion from the previous loss of Rp93.95 billion.

Meanwhile, LPPF assets were recorded stable at Rp6.31 trillion in the January - March 2021 period.