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Hero Supermarket swings to loss in full year

PT Hero Supermarket Tbk said its normalized net income for the full year was a loss of 8.31 rupiah per share, compared with the S&P Capital IQ consensus estimate of a loss of 7.00 rupiah per share.

The per-share result swung to a loss from the prior-year profit of 8.18 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 34.76 billion rupiah, compared with income of 34.24 billion rupiah in the year-earlier period.

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

Total revenue climbed 12.4% year over year to 14.353 trillion rupiah from 12.769 trillion rupiah, and total operating expenses grew 12.9% year over year to 14.540 trillion rupiah from 12.882 trillion rupiah.

Reported net income totaled a loss of 82.22 billion rupiah, or a loss of 19.65 rupiah per share, compared to income of 63.66 billion rupiah, or 15.22 rupiah per share, in the year-earlier period.

As of Feb. 26, US$1 was equivalent to 13,380 rupiah.