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HERO will overhaul its business this year

08 March 2019 01:52 PM  Company: PT. Hero Supermarket Tbk[HERO]
Rp. 885  -40 (-4.32%)

JAKARTA. PT Hero Supermarket Tbk (HERO) overhauled its business on a large scale this year, after its poor performance last year.

Patrick Lindvall, President Director of HERO, said that the company would renew its retail portfolio and reduce asset values that affect the company's performance. For example, by rearranging its business in the food sector, because it does not produce results according to expectations.

Lindvall claimed business pressure last year was not only experienced by HERO, but also other business people in the retail sector. "Like other retail businesses in Indonesia, we face competitive pressure," Lindvall said as quoted by Kontan on Friday (8/3) today.

HERO revenues throughout 2018 were recorded to decline by 0.4% to Rp 12.97 trillion. In the previous year (2017), HERO managed to record revenues of Rp 13.03 trillion. (KR/AR)

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PT. Hero Supermarket Tbk [HERO]   Rp. 885   -40 (-4.32%)