DFI Retail Group Holdings Ltd PT HERO SUPERMARKET TBK NINE MONTHS 2023 RESULTS (8610R)
31 Ottobre 2023 - 10:30AM
UK Regulatory
TIDMDFI TIDMJAR
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
- end -
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