MAP Aktif Adiperkasa (MAPA.IJ) - Decent Growth Outlook Amid a Consolidation Year
We see the company’s consolidation and efficiency initiatives this year as positive, as they could lay the foundation for stronger growth esp in...
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Retail: 3Q25 Preview: Steady Revenue, But Earnings May Come Under Pressure (OVERWEIGHT)
As we expect margins to normalize, core profit growth is estimated to be flat yoy in 9M25, likely falling short of our estimates. Maintain...
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Retailers Boost Promotions as FMCG Prices Rise Ahead of Eid Festive (OVERWEIGHT)
Retailers have offered healthy promotions Ytd, while we observed some FMCG price increases ahead of the Eid Festive season.
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MAP Aktif - Store Expansions and Cost Efficiency Drive FY24-26F Est. And TP Upgrade
New store openings and cost management initiatives drove solid 9M24 net profit growth of 8.4% yoy. We increased our FY24/25F net profit estimates...
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Retail: 3Q24 Preview: Solid Growth, Normalized Margins; Expect Strong Results from ACES and MIDI
We expect solid 3Q24 rev. growth (12.5% yoy) with normalized margins driving retailers to fetch 9M24 core profit growth of 3.9% yoy (in line).
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