Dairy Farm International Hldgs Ltd Nine Months 2018 Results of PT Hero (7057F)
October 30 2018 - 6:02AM
UK Regulatory
TIDMDFI TIDMJAR TIDMJDS
RNS Number : 7057F
Dairy Farm International Hldgs Ltd
30 October 2018
To: Business Editor 30th October 2018
For immediate release
PT HERO SUPERMARKET TBK
NINE MONTHS 2018 RESULTS
The following announcement was issued today by the Company's
85.8%-owned subsidiary, PT Hero Supermarket Tbk.
For further information, please contact:
Dairy Farm Management Services Limited
Neil Galloway (852) 2299 1896
Brunswick Group Limited
Kirsten Molyneux (852) 3512 5053
South Tangerang, 30(th) October 2018
PT HERO SUPERMARKET TBK
NINE MONTHS 2018 RESULTS
Highlights
-- Net revenue down 1%, held back by the Food business
-- IKEA and Guardian show continued strong performance
-- Net profit increased by 23% to Rp 86 billion, despite a larger Food business loss
"While our overall Food business remains challenging, the
performance of IKEA and Guardian continues on a positive
trajectory."
Patrik Lindvall
President Director
Results
(Unaudited)
Nine Months
2018 2017 Change
Rp billion Rp billion %
---------------------- --- --------------------------- ---------------------- ------------
Net Revenue 9,849 9,961 -1
Gross Profit 2,744 2,638 +4
Operating profit 92 77 +20
Net Profit 86 70 +23
--------------------------- --------------------------- ---------------------- ------------
Rp Rp %
---------------------- --- --------------------------- ---------------------- ------------
Net Profit per share 21 17 +24
PRESIDENT DIRECTOR'S STATEMENT
Overview
During the first nine months of the year, the Food business
overall continued to face challenging conditions. The decline in
sales also reflected the impact of closures of some underperforming
stores. Profitability for the period improved, however, due to the
continuing growth of the Non-Food businesses, which more than
offset a larger loss from the Food business. While the third
quarter loss for the Food business was lower than previous
quarters, this was principally due to the timing of certain
income.
Financial Performance
Total sales in the first nine months of 2018 were 1% lower at Rp
9,849 billion (2017, Rp 9,961 billion), due to lower sales in Food,
while Non-Food delivered strong top line growth from a combination
of like-for-like expansion and a number of new Guardian stores. The
Company recorded a net profit of Rp 86 billion for the first nine
months of 2018, compared with Rp 70 billion in the same period last
year.
Food sales were 6% lower at Rp 7,841 billion (2017, Rp 8,342
billion), due to closures of some underperforming stores and
negative like-for-like sales, leading to a segment operating loss
of Rp 163 billion, compared with a loss of Rp 79 billion in the
same period last year.
Sales in Guardian and IKEA grew by 24% to Rp 2,008 billion
(2017, Rp 1,619 billion), with strong like-for-like sales. Segment
operating profit was Rp 296 billion, compared with Rp 231 billion
in the same period last year.
Business Activities
Comprehensive improvement actions are being implemented in the
Food business, which are centered around enhancing the shopping
experience and serving our customers better.
Guardian continues to grow in line with expectations. The beauty
categories are performing well, driven by new product launches. The
new distribution centre in Surabaya is fully operational and will
improve stock availability in East Java and Bali.
IKEA continued its positive momentum from the first half of the
year, with an increase in customer visits to both its Alam Sutera
store and its e-commerce channel. The growth of the business is
underpinned by a continuous focus on providing the unique IKEA
range of well-designed home furnishing products at everyday low
prices, inspirational and market relevant home furnishing solutions
and a wide range of services, in order to make a visit to IKEA
worthwhile and convenient.
As at 30(th) September 2018, the Company operated 448 stores,
comprising 59 Giant Ekstra, 96 Giant Ekspres, 31 Hero Supermarkets,
3 Giant Marts, 258 Guardian Health and Beauty stores and one IKEA
store.
Prospects
While our overall Food business remains challenging, the
performance of IKEA and Guardian continues on a positive
trajectory.
Patrik Lindvall
President Director
30(th) October 2018
- end -
For further information contact:
Patrik Lindvall, President Director
PT Hero Supermarket Tbk
Tel: +62-21-8378 8388, Fax: +62-21-831 7764
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END
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