JAKARTA. PT Ace Hardware Indonesia Tbk (ACES), a retail company under Kawan Lama Group, opens up two new outlets outside Java Island.
Helen Tanzil, Corporate Secretary of ACES, mentioned that the said outlets are launched in Palembang and Lombok. The one in Palembang has an area of 1,200 metres square, while the new store in Lombok is 700 metres square.
“Therefore, the company currently operates 221 outlets in total,” Tanzil confirmed in the information disclosure in Indonesia Stock Exchange (IDX).
At the end of the fiscal year 2021, ACES reportedly manages 216 outlets across several cities, which means that ACES has introduced five new stores since the beginning of 2022. These new ones include stores in Surabaya, Grand Depok City, Cileungsi, Palembang, and Lombok.
According to idnfinancials.com data, ACES plans to establish 15 new stores this year. In order to support this expansion plan, the company has prepared the capital expenditure budget of IDR 200 billion. More specifically, it plans to utilise its internal cash to fund the capital expenditure.
With this expansion on hand, ACES aims to score sales growth of 8%-10% in the fiscal year 2022. Unfortunately, in 2021, ACES’s sales reportedly shrank 11.7% to IDR 6.54 trillion. (KR/ZH)