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Sepatu Bata Q1 profit falls YOY

PT Sepatu Bata Tbk said its first-quarter normalized net income amounted to 1.06 rupiah per share, a decline of 88.8% from 9.41 rupiah per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.37 billion rupiah, a decrease of 88.8% from 12.23 billion rupiah in the prior-year period.

The normalized profit margin dropped to 0.7% from 5.9% in the year-earlier period.

Total revenue grew year over year to 213.16 billion rupiah from 206.45 billion rupiah, and total operating expenses climbed 12.7% on an annual basis to 209.45 billion rupiah from 185.92 billion rupiah.

Reported net income fell 95.8% year over year to 585.8 million rupiah, or 45 sen per share, from 13.83 billion rupiah, or 10.64 rupiah per share.

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