Divesting idle assets, HERO’s revenue took a 30.6% upturn
JAKARTA. PT Hero Supermarket Tbk (HERO), a retail company that manages Hero supermarket chain, Guardian, and IKEA in Indonesia, posted revenue of IDR 3.23 trillion as of September (9M) 2022.
HERO’s revenue in this period increased 30.6$ year-on-year (yoy) or compared to the same period last year. Unfortunately, this achievement still could not rid the company’s loss that reached IDR 85 billion in 9M 2022. However, the loss shrank significantly compared to IDR 747.43 billion seen in 9M 2021.
Alfredo Chandra, Director of HERO, claimed that the decreased loss in 9M 2022 coincided with several strategies that the company has been implementing. Some of the strategies include boosting net profit margin to 1%, optimising cost control, and divesting idle assets.
Chandra revealed further that HERO has recently divested its assets in the form of land and building. The proceeds of this divestiture will then be allocated to improve the company’s business performance.
“We have sold one property asset. The collected fund will be utilised to cover future investments,” Chandra added in the public expose earlier today (5/12).
Meanwhile, Hadrianus Wahyu Trikusumo, Director of HERO, agreed that idle assets of the company should always be maximised. Should renting them fail to bring profit, the company should consider the option to divest them.
“These idle assets will indeed cost us a lot for their maintenance, and they will become a liability for us. However, if they could drive our profitability, we will continue to sell and offer them,” Trikusumo said. (KR/ZH)