HomeNewsVideos

KIOS profit soars 113% in second quarter

23 August 2021 12:04

JAKARTA - PT Kioson Komersial Indonesia Tbk (KIOS), recorded a net profit of Rp 1.5 billion, an increase of 113.4 percent from a record loss of Rp 10.8 billion in the same period last year (YOY). 

The company's gross profit also increased by 143% compared to the same period last year to Rp 8.4 billion. Meanwhile, in terms of sales, although it recorded a decline to Rp 175.4 billion, KIOS succeeded in significantly reducing the cost of sales and operations so as to maintain the consistency of the Company's profit this year

Roby Tan, Director of KIOS said “Throughout 2021, KIOS recorded a positive bottom-line performance. This achievement is inseparable from the Company's strategy to carry out efficiency, restructuring, and business development according to growing business opportunities. This can be seen from the revenue contribution from Advertising and E-commerce which has accelerated to grow during this period.”

As of August this year, KIOS has built more than 80 warehouses and aims to build 1,000 warehouses by the end of 2022.

Meanwhile, Director of KIOS, Ornela Bartin, added that with the considerable business potential of GudangPintar coupled with RetailKita services which has a role as a liaison between partner stalls and FMCG (fast moving consumer goods) or Digital Distribution Hub producers, the Company plans to take corporate action under the Right Issue mechanism. 

KIOS will seek approval for this corporate action at the Extraordinary General Meeting of Shareholders (EGMS) which will be held on August 24, 2021. The plan is to use the funds from the corporate to strengthen the company's capital structure in order to develop these business activities. (LM)

© 2024 - IDN Financials - All Rights Reserved.