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Hero's revenue declines due to declining by food sales

01 March 2019 11:29 AM  Company: PT. Hero Supermarket Tbk[HERO]
Rp. 885  0 (0%)

JAKARTA - The decline in food sales throughout 2018 affected the revenue of PT Hero Supermarket Tbk (HERO). The company gained Rp 12.97 trillion in revenue in 2018, 0.5% lower than its revenue in 2017 (Rp 13.03 trillion).

Patrik Lindvall, President Director of PT Hero Supermarket Tbk (HERO) stated that food sales decreased by 5% to Rp 10.34 trillion in 2018 with underlying loss reached Rp 157 billion in 2018, which was than Rp 276 billion recorded in 2017.

"The significant challenge was faced by Giant Supermarket and Hypermarket, which recorded lower sales," he said as cited from the company's press release.

However, Hero Supermarket stores still gave a positive contribution to the company's revenue due to the improvement in the quality of its standard operation and available goods`

The non-food business contributed Rp 2.69 trillion, 21% higher than its number in 2017. The products in the business segment that supported the revenue were health product and beauty products, including e-commerce. (LK/AR)

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