PT Mitra Adiperkasa, Indonesia’s largest upmarket retailer, expects sales growth to slow this year to between 15 and 18 percent, below last year’s 25 percent, said Fetty Kwartati, its corporate secretary.
The firm expects sales in 2014 reaching 10.5 trillion rupiah ($867 million), up from last year’s forecast of 9 trillion rupiah.
The firm also said it would cut its 2014 capital expenditure to 600 billion rupiah from last year’s 850 billion rupiah. (Bisnis Indonesia)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 12110 rupiah) (Compiled by Jakarta Newsroom; Editing by Prateek Chatterjee)