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After rebranding, Ramayana predicts 2018 profits up 44%

13 February 2019 05:16 AM  Company: PT. Ramayana Lestari Sentosa Tbk[RALS]
Rp. 1,705  -75 (-4.21%)

JAKARTA - PT Ramayana Lestari Sentosa Tbk (RALS) projects a net profit in 2018 to increase by around 44 percent following the third quarter's profit achievement of Rp 527.27 billion. While the achievements in 2017 was amounted to Rp 406.58 billion.

With that projection, the net profit of the issuer with the RALS stock code can reach Rp. 585.47 billion. As of September 2018, Ramayana's net profit has reached Rp 527.27 billion, up by 43% compared to September 2017 of Rp 367.80 billion.

The revenue up to the third quarter rose to Rp 4.52 trillion from the same period in 2017 of IDR 4.42 trillion.

"We can project profits, exactly up to 44%. This is supported by our rebranding that has been carried out since May 2016," said Jane Melinda Tumewu, VP Director of Ramayana Lestari Sentosa, told CNBC Indonesia, Tuesday (02/12/2019).

If the performance projection is in accordance with the audit financial statements, then Ramayana's performance will improve in the midst of the tight penetration of e-commerce that blocks conventional retail businesses. In comparison, the profit of Rp 406.58 billion posted by Ramayana in 2017 edged down 0.5% from 2016's profit of Rp 406.58 billion.

Jane said that the company's performance is still supported by 119 outlets in Indonesia, and in Java it reaches 50 outlets. (AM/LM)

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PT. Ramayana Lestari Sentosa Tbk [RALS]   Rp. 1,705   -75 (-4.21%)