JAKARTA - PT Penta Valent Tbk (PEVE), a pharmaceutical product distributor, introduces Megamart, a retail sales outlet, in order to expand its distribution network and raise revenue.

Franxiscus Afat Adinata Nursalim, Director of PEVE, said that Megamart will be managed by PT Mega Depo. “The company forms a subsidiary engaged in the retail sales business,” he added, as quoted today (24/7).

PEVE is known to have debuted on Indonesia Stock Exchange (IDX) by offering 353.12 million shares worth IDR 20 per share on January 17-19, 2023. The offering price of IPO was set to IDR 149 per share, aiming to collect IDR 52.61 billion. The entire IPO proceeds were then allocated as working capital.

In 2022, this issuer booked sales of IDR 2.14 trillion and current year’s profit of IDR 23.54 billion. This achievement rose from 2021 sales and profit of IDR 1.78 trillion and IDR 19.27 billion.

In Q1 2023, net sales were recorded at IDR 541.73 billion, growing 6.96% from IDR 506.48 billion in the same period in 2022. Its profit also significantly soared from IDR 3.92 billion to IDR 6.01 billion. (LK/ZH)