DFI Retail Group Holdings Ltd PT Hero Supermarket Tbk Nine Months 2022 Results (7384E)
31 10월 2022 - 7:28PM
UK Regulatory
TIDMDFI TIDMJAR
RNS Number : 7384E
DFI Retail Group Holdings Ltd
31 October 2022
Announcement
31st October 2022
PT HERO SUPERMARKET TBK
NINE 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:
DFI Retail Group Management Services
Limited
Diky Risbianto (62-21) 8378 8388
South Tangerang, 31(st) October 2022
PT HERO SUPERMARKET TBK
NINE MONTHS 2022 RESULTS
Highlights
-- Double-digit growth in underlying revenue and gross profit from continuing operations
-- Significantly reduced reported losses in the first nine months of 2022
-- PT Hero remains well-positioned for growth as external trading conditions normalise
Results
(Unaudited )
NINE MONTHS
2022 2021 Change
Rp billion Rp billion %
----------- ----------- -------
Net Revenue from continuing operations 3,233 2,475 31%
Gross Profit from continuing
operations 1,337 982 36%
Loss for the period from continuing
operations (226) (457) n.m.
Reported loss for the period (85) (747) n.m.
Rp Rp %
Loss per share from continuing
operations (54) (109) n.m.
Reported loss per share (20) (179) n.m.
---------------------------------------- ----------- ----------- -------
PRESIDENT DIRECTOR'S STATEMENT
Introduction
The Group had an encouraging performance for the first nine
months of 2022, which was assisted by the loosening of COVID-19
restrictions, especially in the third quarter. Both Guardian and
IKEA reported double-digit growth in like-for-like sales during the
period. In addition, Hero Supermarket reported strong sales growth
for the first nine months of 2022 relative to the prior year.
Financial Performance
The Group's reported revenue for the first nine months of 2022
was Rp 3,233 billion, an increase of 31% relative to the prior
comparable period. The Group reported a net loss of Rp 85 billion
for the first nine months of 2022, a significant reduction from the
same period last year.
Guardian Health and Beauty reported robust double-digit
like-for-like sales growth for the first nine months of 2022.
Encouragingly, stores in premium malls and tourist locations
benefited from strong growth in customer traffic. As a result,
profitability for the first nine months of 2022 significantly grew
relative to the same period in the prior year. 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 in the first nine months of
2022 due to the annualisation of new store openings in the prior
year. IKEA reported improved like-for-like sales growth in the
third quarter relative to the first half, with stores benefitting
from improved customer traffic and relaxed government restrictions
on operating capacity and trading hours. In addition, global
supply-chain constraints that impacted stock availability in the
first half improved in the third quarter. A continued commitment to
provide affordable and inspirational Home Furnishing products and
solutions supported by rigorous cost control is expected to
accelerate performance for the remainder of the year.
Hero Supermarket's sales growth increased in the first nine
months of 2022 relative to the prior year, driven by annualization
of new store openings as well as recovery in customer traffic. In
addition, Hero's range optimisation, with the introduction of more
than 2,000 new items since the start of 2022, has supported sales
performance.
Business Update
Following the Group's strategic pivot away from the Giant banner
in the second half of 2021, the Company successfully divested one
company-owned property in the third quarter. Proceeds from the
transaction will strengthen the Group's financial position, reduce
debt and support future profitability. In addition, the Group
remains in active discussions with third parties for the potential
divestment of the remaining owned properties.
In line with the Group's strategy to drive long-term sustainable
growth, the Group will accelerate the opening of Guardian stores in
the fourth quarter. In addition, 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.
Prospects
The Group has experienced encouraging improvements as the
external trading conditions and consumer behaviour begins to
normalise. The Group remains steadfast in investing in its key
businesses and building the foundations to position the Group to
deliver robust and sustainable growth over the long term.
Patrik Lindvall
President Director
31(st) October 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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