REG - DFI Retail Group Jardine Matheson Hdg - PT HERO SUPERMARKET TBK NINE MONTHS 2023 RESULTS

DFI Retail groupAnnouncement

31/10/2023 09:45

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RNS Number : 8610R  DFI Retail Group Holdings Ltd  31 October 2023

 Announcement
 31st October 2023

 

 

PT HERO SUPERMARKET TBK

NINE MONTHS RESULTS ENDED 30th SEPTEMBER 2023

 

 

 

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) October 2023

 
PT HERO SUPERMARKET TBK
NINE MONTHS RESULTS ENDED 30(th) SEPTEMBER 2023

 

Highlights

·    Net revenue of Rp 3,803 billion, up 18% year-on-year

·    Improvement in reported profit compared with the same period last
year

·    PT Hero remains well-positioned for medium to long-term growth

 

Results

                                            Unaudited

                                            NINE MONTHS
                                            2023             2022             Change
                                            Rp billion       Rp billion       %
 Net Revenue from continuing operations     3,803            3,233            18
 Gross Profit from continuing operations    1,520            1,337            14
 Loss from continuing operations            (245)            (226)            n.m.
 Reported profit / (loss)                   19               (85)             n.m.
                                            Rp               Rp               %
 Loss per share from continuing operations  (58)             (54)             n.m.
 Reported profit / (loss) per share         5                (20)             n.m.

 

PRESIDENT DIRECTOR'S STATEMENT

 

Introduction

The Company's sales and gross profit increased in the third quarter relative
to the same period last year. Guardian Health and Beauty continued to report
strong results in the third quarter, while IKEA and Hero Supermarket reported
improved like-for-like sales momentum.

 

Company Performance

The Company's net revenue in the first nine months was Rp 3,803 billion, 18%
higher than the prior comparable period.  Reported profit was Rp 19 billion,
compared to the Rp 85 billion loss reported in 2022 mainly due to gains on the
divestment of non-core properties.

 

Guardian Health and Beauty reported like-for-like sale growth of more than
20%, underpinned by a recovery in foot traffic to stores in premium malls and
tourist locations.  As a result, profitability significantly improved
compared to the same period last year.  Guardian continues to strengthen its
value proposition by optimising its range and developing its omnichannel
presence to increase accessibility for customers.

 

IKEA's reported revenue increased for the first nine months compared to the
same period last year, primarily driven by the annualised impact of new store
openings.  Like-for-like sales over the first nine months were impacted by
reduced average customer spending, due to a reduction in demand for durable
goods as customers focussed spend more on leisure and travel.  Encouragingly,
however, like-for-like sales momentum improved in the third quarter relative
to prior quarters.  Profitability for the first nine months was also
adversely affected by reduced customer demand and gross margin.  For the
remainder of the year, IKEA will continue to drive initiatives to improve
customer experience, enhance inventory management and focus on store
productivity and cost control.

 

Hero Supermarket's sales and profitability continued to be impacted by lower
demand for key consumer staples.  Nevertheless, like-for-like sales momentum
improved in the third quarter relative to prior quarters.  Hero Supermarket
continues to innovate with new store format development and the implementation
of robust cost controls to improve store productivity.

 

Business Update

During the first nine months, the Group divested three properties,
contributing to an improved financial position.  The Company remains in
discussions with third parties with respect to divesting its remaining
non-core properties.

 

Prospects

The Group continues to see variability in demand patterns across its business
units.  The encouraging recovery in the Health and Beauty business is
expected to continue.  The recovery in the underlying Home Furnishing
business is, however, likely to be uneven, and the Company will continue to
focus on enhancing sales productivity in stores and implementing cost
controls.  The Company remains well-positioned to deliver sustainable growth
over the medium to long-term.

 

Patrik Lindvall

President Director

31(st) October 2023

 

For further information contact:

Patrik Lindvall, President Director

PT Hero Supermarket Tbk

Tel: +62-21-8378 8388

E-mail: extcomm@hero.co.id (mailto:extcomm@hero.co.id)

 

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