REG - DFI Retail Group Jardine Matheson Hdg - PT Hero Supermarket Tbk Three Months 2023 Results

Jardine Matheson HoldingsAnnouncement

28/04/2023 10:30

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RNS Number : 8855X  DFI Retail Group Holdings Ltd  28 April 2023

 Announcement
 28th April 2023

 

 

PT HERO SUPERMARKET TBK

THREE MONTHS 2023 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, 28(th) April 2023

 
PT HERO SUPERMARKET TBK
THREE MONTHS 2023 RESULTS

 

Highlights

·    Double-digit growth in underlying revenue and gross profit from
continuing operations

·    Significant turnaround in reported profit

·    The Company remains well-positioned as a strong, competitive retailer
in Indonesia

Results

                                            (Unaudited)

                                            THREE MONTHS
                                            2023             2022             Change
                                            Rp billion       Rp billion       %
 Net Revenue from continuing operations     1,166            1,001            17%
 Gross Profit from continuing operations    478              410              17%
 Loss from continuing operations            (73         )    (85         )    n.m.
 Reported profit / (loss)                   152              (67         )    n.m.
                                            Rp               Rp               %
 Loss per share from continuing operations  (17         )    (20         )    n.m.
 Reported profit / (loss) per share         36               (16         )    n.m.

 

PRESIDENT DIRECTOR'S STATEMENT

 

Introduction

 

The Company's sales and underlying profitability improved in the first
quarter, driven primarily by strong sales and profit growth from its Guardian
business.  IKEA sales and profitability, however, were impacted by changing
trends in consumer demand towards increased spending on leisure and travel.

 

Financial Performance

 

The Company's revenue in the first quarter of 2023 was Rp 1,166 billion, an
increase of 17% relative to the equivalent period last year.  Reported net
profit was Rp 152 billion.  This turnaround in profitability was supported by
property divestments in the quarter.

 

Guardian Health and Beauty reported strong like-for-like sales growth in the
first quarter, underpinned by continued recovery in foot traffic to stores in
premium malls and tourist locations.  As a result, profitability also
increased significantly compared with the prior year, further supported by
strong cost control.  Guardian continues to focus on driving increased
accessibility for customers, strengthening its value proposition and driving
range optimisation tailored to specific customer demographics.

 

IKEA's total sales revenue for the first quarter increased compared to the
same period last year, primarily driven by the annualised impact of new
stores.  Like-for-like sales, however, were impacted by reduced average
customer spending as overall demand for durable goods fell, with customers
directing more consumption towards leisure and travel.  Profitability was
also adversely affected by reduced average customer demand.  IKEA continues
to drive commercial activities across all channels and focus on managing costs
in the face of uncertain trading conditions.

 

Hero Supermarket's like-for-like sales and profitability were impacted by a
moderation of demand for key consumer staples.  Nevertheless, Hero
Supermarket continues to innovating through format development and following
its range optimisation initiative introduced last year, Hero Supermarket has
added more than 1,100 new products since the start of the year.

 

Business Update

 

The Company successfully divested two owned properties in the first quarter of
2023.  Proceeds from the transactions have strengthened the Company's
financial position to support future growth.  The Company remains in active
discussions with third parties with respect to divestment of its remaining
owned properties.

 

Prospects

 

Despite variability in customer demand patterns across HERO Group's business
units, the Company remains cautiously optimistic with respect to outlook for
the remainder of the year.  The Company remains prudent and will continue to
monitor the impact of inflationary pressures and changes in consumer
sentiment.  The Company remains committed to investing in its key businesses
and building the foundations for the Company to deliver robust and sustainable
growth over the medium to long term.

 

Patrik Lindvall

President Director

28(th) April 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)

- end -

 

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