Dairy Farm International Hldgs Ltd PT Hero Supermarket Tbk Three Months 2022 Results (8800J)
29 Abril 2022 - 4:35AM
UK Regulatory
TIDMDFI TIDMJAR
RNS Number : 8800J
Dairy Farm International Hldgs Ltd
29 April 2022
Announcement
29th April 2022
PT HERO SUPERMARKET TBK
THREE MONTHS 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:
Dairy Farm Management Services Limited
Diky Risbianto ( 62 - 21 ) 8378 8388
South Tangerang, 29(th) April 2022
PT HERO SUPERMARKET TBK
THREE MONTHS 2022 RESULTS
Highlights
-- Underlying like-for-like sales recovery trend across business units
-- Underlying losses excluding lease liability provision releases narrowed compared to prior
comparable period
-- PT Hero is well-positioned to benefit when external conditions normalise
Results
(Unaudited)
THREE MONTHS
2022 2021 Change
---------------------
Rp billion Rp billion %
--------------------- ---------------- --------------- -------
Net Revenue 1,001 1,763 -43.3
Gross Profit 414 494 -16.2
Loss for the period (67) (2) n.m.
Rp Rp %
Loss per share (16.1) (0.4) n.m
---------------------- ---------------- --------------- -------
PRESIDENT DIRECTOR'S STATEMENT
Introduction
The Company is broadly experiencing a trend of underlying
like-for-like sales recovery across its business units relative to
sales performance in 2021. Whilst the Company continued to face
challenges in the first quarter of 2022 due to the third COVID-19
wave and varying implementations of PPKM (Enforcement of Limitation
on Community Activities), trading improved from the middle of March
as restrictions were eased.
Financial Performance
The Company's reported revenues for the quarter were impacted by
the strategic pivot away from the Giant brand, which was executed
in the second half of 2021. The Company reported a net loss of Rp
67 billion for the first three months of 2022. After excluding
reversal of lease liability provisions booked in both periods, the
Company's underlying losses narrowed by Rp 105 billion in the
quarter relative to the prior comparable period.
IKEA's revenues in the quarter increased primarily due to
annualisation impact of new store openings in the prior year.
However, like-for-like sales continued to be impacted by COVID-19
restrictions on operating capacity and trading hours. Global supply
chain constraints also impacted stock availability. These factors
impacted divisional profitability, partially offset by stringent
cost control. IKEA, however, remains balanced in its approach and
continues to invest in Indonesia to drive long-term sustainable
growth. 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.
Guardian Health and Beauty reported ongoing improvement in
like-for-like sales relative to the fourth quarter of 2021.
Encouragingly, stores in premium malls and tourist locations
reported good performance driven by strong growth in customer
traffic. Guardian continues to focus on driving increased
accessibility for customers, strengthening its value proposition
and range optimisation tailored to specific customer
demographics.
Hero Supermarket sales revenue grew year-on-year as a result of
contributions from new store openings in the prior year.
Like-for-like sales continue to improve from last quarter, assisted
by strong improvement in customer traffic. Hero continues to
innovate through range optimisation programmes and the rollout of
new online shopping initiatives.
Business Update
Consistent with the Company's strategy of pivoting its business
to high potential brands, IKEA has grown store Pick-Up-Point to 21
at March 2022 (vs. 10 at March 2021). Hero Supermarkets' store
network has grown to 23 at March 2022 (vs. 19 at March 2021).
Whilst Guardian's overall network has been impacted by the
execution of the Giant restructure, significant store growth is
expected in the second half. Following the execution of its
strategic pivot, the Company remains in active discussions with a
number of third parties with respect to potential divestment of
owned properties.
Prospects
The duration of the COVID-19 pandemic and the extent of its
impact on PT Hero remains uncertain. Nevertheless, we have been
encouraged by improving underlying performance trends as pandemic
related restrictions ease. PT Hero continues to invest in its key
businesses and is confident that these investments will generate
strong returns over the longer term.
Patrik Lindvall
President Director
29(th) April 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 -
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DOCKKLBLLZLXBBX
(END) Dow Jones Newswires
April 29, 2022 05:35 ET (09:35 GMT)
Jardine Matheson Holding... (LSE:JARJ)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Jardine Matheson Holding... (LSE:JARJ)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024
