In 2024, Matahari Department Store Prepares 40 Percent Shopping Capital From 2023 Net Profit

Illustration (Photo: Doc. Antara)

PT Matahari Department Store Tbk (LPPF) will prepare a capital expenditure (capex) in 2024 of 40 percent of the 2023 budget.

Previously, in 2023 the LPPF provided a capex of IDR 350 billion.

LPPF's Chief Financial Officer, Niraj Jain, said that the Company's capex next year is expected to be budgeted below IDR 300 billion.

"We are implementing financial caution to ensure that we get the best value for money," he said in the Public Expose Live 2023, Thursday 30 November

Niraj menyampaikan, penggunaan modal belanja akan digunakan untuk merenovasi dan perbaikan di toko-toko, di mana terdapat 22 toko yang direncanakan akan dilakukan renovasi pada tahun 2024.

In addition, LPPF also plans to add 6 new outlets next year, consisting of 4 Matahari outlets and 2 MU&KU outlets.

However, Niraj has not provided information on the performance targets of adding new outlets.

"However, we believe our sales will be positive from the momentum of the Christmas and New Year holidays, as well as a number of other big days," he said.

Meanwhile, LPPF's Vice President of Finance & Accounting Susanto said, LPPF will distribute dividends to shareholders with a ratio of 50 percent of 2023 profit.

"For 2024, the dividend policy remains the same as the dividend payment ratio of at least 50 percent," he concluded.