JAKARTA – PT Supra Boga Lestari Tbk (RANC), the owner of Ranch Market, reported current year’s loss of IDR 51.11 billion throughout the first half of 2022. For comparison, in H1 2021, the company still managed to stay afloat with a net profit of IDR 19.11 billion.
In the Financial Statement of H1 2022 quoted today (15/9), Meshvara Kanjaya, President Director of Ranch Market, claimed that its revenue actually increased, albeit slightly, from IDR 1.48 trillion to IDR 1.49 trillion. However, higher financial expenses dragged down the gross profit from IDR 351.26 billion to IDR 327.64 billion.
The current year’s loss shrank 367.46% from the profit of IDR 19.11 billion in the first half of 2021. This resulted from increases in selling and financial expenses and a declined interest income, which, when combined, pushed down the loss before income tax from IDR 20.61 billion in H1 2021 to IDR 51.28 billion in H1 2022. (LK/ZH)