We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

JDSB Jardine Strategic Holdings Ld

0.00 (0.00%)
12 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Jardine Strategic Holdings Ld LSE:JDSB London Ordinary Share BMG507641022 ORD US$0.05(BERMUDA REG)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 27.9722 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Dairy Farm International Hldgs Ltd Full Year 2020 Results of PT Hero (7866R)

10/03/2021 9:38am

UK Regulatory


RNS Number : 7866R

Dairy Farm International Hldgs Ltd

10 March 2021

 To: Business Editor   10th March 2021 
                       For immediate release 



The following announcement was issued today by the Company's 89.3%-owned subsidiary, PT Hero Supermarket Tbk.

For further information, please contact:

Dairy Farm Management Services Limited 
Diky Risbianto                           ( 62 - 21 ) 8378 8388 
Gwendolyn Cheong                                (65) 8907 9249 

South Tangerang, 10(th) March 2021




   --    2020 results significantly impacted by COVID-19 
   --    Grocery Retail and Health and Beauty materially affected by pandemic-related restrictions 
   --    IKEA performance supported by strong e-commerce growth 
   --    Multi-year transformation continues, despite market challenges 


                           Audited Full Year 
                            2 020         2019   Change 
                       Rp billion   Rp billion        % 
-------------------   -----------  -----------  ------- 
 Net Revenue                8,894       12,181    -27.0 
 Gross Profit               2,400        3,448    -30.4 
 Loss for the year        (1,215)         (28)     n.m. 
                               Rp           Rp        % 
                      -----------  ----------- 
 Loss per share             (290)          (7)     n.m. 
--------------------  -----------  -----------  ------- 



The Company faced significant challenges in 2020 due to the COVID-19 pandemic, the related imposition of PSBB (Large Scale Social Distancing) and changes in customer shopping habits.

The Group's Grocery Retail and Health and Beauty businesses were both adversely impacted by the pandemic. PSBB restrictions led to changes in customer shopping behaviours and product demand patterns and impacted traffic into stores within shopping malls.

IKEA Home Furnishings stores were impacted by restrictions on operating capacity as well as temporary store closures. However, this was partially offset by strong e-commerce growth.

Financial Performance

The company reported a loss of Rp 1,215 billion. The major factors affecting the reported performance can be attributed in broadly equal measure to the significant impact government PSBB measures had on free movement of the general public and non-cash charges associated with the business store optimisation programme.

IKEA sales were impacted by restrictions on operating capacity as well as disruptions to trading from COVID-19, partially offset by strong e-commerce growth. Total operating profit was impacted by reduced profitability from stores due to lower sales.

Guardian Health and Beauty delivered strong sales and underlying profit growth in the first quarter. However, its performance for the remainder of the year was impacted by pandemic-related restrictions in Indonesia, which led to significantly reduced foot traffic.

The performance of the PT Hero Grocery Retail business was significantly impacted by the pandemic. Total retail sales reduced in part due to the Group operating fewer stores as a result of the Company's store optimisation plan, which was implemented in 2019. Underlying financial performance, however, was impacted most by changes in customer behaviours which have accelerated as a result of the pandemic, as well as a rise in the cost of goods. Strict social restrictions, local travel bans and, in particular, the closure or imposition of heavy trading constraints on shopping malls significantly limited foot traffic into, and materially impacted the performance of, large format destination hypermarkets, which are frequently the anchor tenants of malls. Hero Supermarket store performance was relatively stronger, with better like-for-like sales performance relative to Giant in the year.

Business Strategy

PSBB restrictions adversely impacted our ability to trade in each of PT Hero's retail divisions. The Company's Food retail business, with large stores located in restricted shopping malls, was adversely impacted the most, similar to other comparable Food retailers in Indonesia. In addition, the sector has seen increasing competition in recent years with the growth of different store formats, as well as changes in consumer behaviours, which have accelerated during the pandemic. In order to address these challenges, we continue to progress our space optimisation programme and we also evaluate on an ongoing basis the relevance of our offer to customers, so that we can adapt to the changing market in order to compete effectively .

In Home Furnishings, we continue to invest in the future growth of the business and remain committed to our strategic plan - to meet the demands of growing middle-income consumers - which involves opening both traditional and new IKEA formats. Following the opening of the IKEA Sentul hypermarket conversion in late 2019, two further new IKEA stores are expected to open in 2021 - one in Bandung and the other in Jakarta Garden City.

The Guardian Health and Beauty business was also heavily impacted by the trading and consumer behavioural constraints outlined above, but also by the severe reduction in tourist traffic.

Despite these current challenges, the Company believes there is still significant potential for the Guardian business to grow the store network across Indonesia, better serve customers across multiple channels, both offline and online, as well as to improve the customer proposition through enhanced store design, range and value.


We would like to express our deep thanks and appreciation to all our team members who have worked tirelessly to service our customers during these challenging times.


The duration and extent of the impact of the COVID-19 pandemic on PT Hero remains uncertain. However, the Company expects the pandemic to continue to affect its operations this year and for 2021 to remain challenging. The Company remains committed to its retail future in Indonesia and in its position as a strong competitive retailer in its chosen sectors, over the long term.

Patrik Lindvall

President Director

10(th) March 2021

- end -

For further information contact:

Patrik Lindvall, President Director

PT Hero Supermarket Tbk

Tel: +62-21-8378 8388


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

March 10, 2021 04:38 ET (09:38 GMT)

1 Year Jardine Strategic Holdin... Chart

1 Year Jardine Strategic Holdin... Chart

1 Month Jardine Strategic Holdin... Chart

1 Month Jardine Strategic Holdin... Chart

Your Recent History

Delayed Upgrade Clock