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Ace Hardware Indonesia Q1 profit falls 8.2% YOY

PT Ace Hardware Indonesia Tbk said its first-quarter normalized net income amounted to 5.72 rupiah per share, compared with the S&P Capital IQ consensus estimate of 6.23 rupiah per share.

EPS fell 8.2% year over year from 6.23 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 97.87 billion rupiah, a decrease of 8.2% from 106.60 billion rupiah in the year-earlier period.

The normalized profit margin dropped to 8.8% from 9.9% in the year-earlier period.

Total revenue climbed year over year to 1.108 trillion rupiah from 1.075 trillion rupiah, and total operating expenses grew 5.5% year over year to 950.24 billion rupiah from 900.33 billion rupiah.

Reported net income fell 7.8% from the prior-year period to 126.09 billion rupiah, or 7.37 rupiah per share, from 136.71 billion rupiah, or 7.99 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.