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Supra Boga Lestari net profit soars 78.31% as of September

28 October 2020 19:03

JAKARTA. PT Supra Boga Lestari Tbk (RANC) managed to boost its net profit growth by 78.31% year on year (yoy) to Rp 64.94 billion as of September 2020.

According to the company's 9M-2020 financial report, RANC's net profit growth was supported by Rp 2.3 trillion in revenue, which grew 29.21% yoy from Rp 1.78 trillion in the same period last year.

In late September, RANC Director Suryawati added, the company's asset value grew 29.2% to Rp 1.23 trillion from Rp 952.5 billion in December 2019. In addition, the company's liabilities also grew 70.4% to Rp 689.7 billion from Rp 404.7 billion in December 2019.

The asset value increase was caused by the addition of fixed assets for new stores and the renovation of the company's existing stores, while its liabilities grew due to an increase in purchases to anticipate a jump in sales.

"The management believes that the increases in the company's assets and liabilities as of 30 September 2020 will not affect the company's performance," Ms Suryawati said in a stock exchange filing. (KR/MS)

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