JAKARTA. PT Ramayana Lestari Sentosa Tbk (RALS) recorded a massive decline in its net profit (99.1%) in the first semester (1H) 2020, from Rp 590 billion in the same period in 2019 to Rp 5 billion.
RALS' management said that the decline in profit was due to the closure of 94 outlets from March to June 2020, due to the implementation pf Large-Scale Social Restrictions (PSBB) policy by the Indonesian Government to stop the spread of the COVID-19 virus. However, at the end of last June, 103 of the 118 RALS outlets have been reopened.
"There are 13 outlets that have not yet reopened due to low sales," said RALS' management in a disclosure published on the Indonesia Stock Exchange's website.
In a press release received by idnfinancials.com, RALS management also revealed a decline in its gross sales of 58.3% YoY to Rp 2.2 trillion.
For information, RALS's management has tried to optimize sales through e-commerce platforms. The company has collaborated with a number of e-commerce companies such as Tokopedia, Shopee, Lazada, JD.ID, and Blibli. However, online sales contributed only 0.4% of the total RALS' sales in 1H 2020. (KR/AR)