REG - DFI Retail Group Jardine Matheson Hdg - PT Hero Supermarket Tbk First Half 2022 Results

DFI Retail groupAnnouncement

31/08/2022 11:00

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RNS Number : 7729X  DFI Retail Group Holdings Ltd  31 August 2022

 Announcement

 31st August 2022

 

 

PT HERO SUPERMARKET TBK

FIRST HALF 2022 RESULTS

 

 

The following announcement was issued today by the Company's 89.3%-owned
subsidiary, PT Hero Supermarket Tbk.

 

 

For further information, please contact:

 

 DFI Retail Group Management Services Limited
 Diky Risbianto                                (62-21) 8378 8388

 

 

South Tangerang, 31(st) August 2022

 

 
PT HERO SUPERMARKET TBK
FIRST HALF 2022 RESULTS

 

Highlights

 

·    Double-digit underlying revenue growth

·    Significantly reduced reported losses in first half of 2022

·    PT Hero is well-positioned to deliver strong growth as external
conditions normalise

 

Results

                                                 (Limited Review)

                                                 FIRST HALF

                                                 2022        2021        Change
                                                 Rp billion  Rp billion  %
 Net Revenue from continuing operations          2,142       1,783       +20%
 Gross Profit from continuing operations         861         730         +18%
 Loss for the period from continuing operations  (119)       (194)       n.m.
 Reported loss for the period                    (114)       (551)       n.m.
                                                 Rp          Rp          %
 Loss per share from continuing operations       (28)        (46)        n.m.
 Reported loss per share                         (27)        (132)       n.m.

 

 

PRESIDENT DIRECTOR'S STATEMENT

 

Introduction

 

External trading conditions remained challenging in the first half of 2022.
However, the Group is beginning to experience some encouraging improvement in
performance.  IKEA's first half like-for-like sales growth improved relative
to the second half of 2021.  In addition, Hero and Guardian reported
improvement in like-for-like sales performance over the first half.

 

Financial Performance

 

The Group's reported revenue for the first half of 2022 was Rp 2,142 billion,
an increase of 20% relative to the prior comparable period.  The Group
reported a net loss of Rp 114 billion for the first half of 2022, a
significant reduction compared to the same period last year.

 

Guardian Health and Beauty reported double-digit like-for-like growth in the
first half of 2022, with growth accelerating in the second quarter relative to
the first quarter.  Encouragingly, stores in premium malls and tourist
locations benefited from strong growth in customer traffic.  Profitability
more than doubled due to strong sales growth and improved category and margin
mix.  Guardian continues to focus on driving increased accessibility for
customers, strengthening its value proposition and range optimisation tailored
to specific customer demographics.

 

IKEA's reported sales grew strongly primarily due to new store openings in the
prior year.  IKEA reported improved like-for-like sales growth in the first
half of 2022 relative to the second half of 2021.  However, reported
like-for-like sales in the half continued to be impacted by government-imposed
restrictions on operating capacity and trading hours in the first quarter,
whilst global supply-chain constraints impacted stock availability.  These
factors impacted divisional profitability, partially offset by stringent cost
control.

 

Hero Supermarket's like-for-like sales growth continued to improve throughout
the half, driven by recovery in mall traffic.  Underlying profitability also
improved in the half due to robust cost control.  Hero's range optimisation,
with the introduction of more than 2,000 new items since the start of 2022,
has supported improved sales performance.

 

Business Update

 

In April, IKEA opened its first city store inside a shopping mall at Mall
Taman Anggrek, offering greater accessibility for customers living in the
centre of Jakarta and its surrounding areas.  IKEA continues to invest in
capabilities and new stores in Indonesia to drive long-term sustainable
growth.  IKEA will expand operations to East Java, with its first store in
Surabaya expected to open by the end of 2022, reaching an estimated three
million people in the metropolitan area.

 

Following its strategic pivot away from the Giant banner in the second half of
2021, the Group remains in active discussions for the potential divestment of
owned properties with a number of third parties.

 

Prospects

 

The duration of the COVID-19 pandemic and the extent of its impact on PT Hero
remain uncertain.  However, the Group remains optimistic that its financial
performance will continue to improve throughout the second half of the year
with government-imposed restrictions easing and consumer behaviour beginning
to normalise.  PT Hero remains steadfast in investing in its key businesses
and building the foundations to position the Group to deliver strong and
sustainable growth over the long term.

 

 

Patrik Lindvall

President Director

31(st) August 2022

 

For further information contact:

Patrik Lindvall, President Director

PT Hero Supermarket Tbk

Tel: +62-21-8378 8388

E-mail: extcomm@hero.co.id

 

- end -

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