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Hero Supermarket Q2 profit falls YOY

PT Hero Supermarket Tbk said its second-quarter normalized net income came to 95 Indonesian sen per share, a decline of 66.1% from 2.80 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.97 billion rupiah, a decrease of 66.1% from 11.71 billion rupiah in the prior-year period.

The normalized profit margin dropped to 0.0% from 0.3% in the year-earlier period.

Total revenue rose 16.0% on an annual basis to 3.909 trillion rupiah from 3.369 trillion rupiah, and total operating expenses grew 15.9% year over year to 3.880 trillion rupiah from 3.349 trillion rupiah.

Reported net income declined 95.9% year over year to 1.60 billion rupiah, or 38 sen per share, from 39.41 billion rupiah, or 9.42 rupiah per share.

As of July 28, US$1 was equivalent to 13,435 rupiah.