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PZZA scores Rp 149 billion in third quarter net profit

14 November 2019 11:55

JAKARTA - PT Sari Melati Kencana Tbk (PZZA), a Pizza Hut restaurant franchise in Indonesia managed to score a net profit of Rp 149 billion in the first nine months of this year.

As of September 2019, PZZA's net sales grew 14.2% on an annual basis to Rp 2.9 trillion supported by the restaurant and delivery order segments. Operating expenses increased 13.3% yoy, while the company's operating profit grew 27.4% from Rp 159 billion in 9M 2018 to Rp 202 billion in 9M 2019.

Steven Christopher Lee, President Director of Sari Melati Kencana said, "We are proud to continue to record a good performance in the first nine months of 2019. We hope that this good performance will continue until the end of the year. We see the potential for sustainable growth in Indonesia in the coming years, because Indonesia is very broad and continues to grow. Therefore, we are currently developing an expansion plan to expand to new areas where we don’t have outlets yet in the upcoming years."

Growing net sales, operational efficiency and low debt levels contributed to a significant net profit growth of 47% to Rp 149 billion. Until the end of November 2019, PZZA operates 501 outlets which are a combination of Pizza Hut Restaurant, Pizza Hut Delivery and Pizza Hut Express throughout Indonesia. (LM)

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