JAKARTA (Yosefardi) – Retailer PT Hero Supermarket Tbk (HERO) booked net profit of Rp671 billion in 2013, jumped 122% from Rp303 billion in 2012. Earning per share (EPS) was Rp176.
While underlying profit only rose 9% to Rp330 billion from Rp303 billion in 2012, assisted by lower interet expenses.
Net revenue increased 13% to Rp11.9 trillion from previous Rp10.5 trillion. Operating income surged 77% to Rp782 billion from earlier Rp441 billion.
While underlying operating income declined 5% to Rp420 billion from Rp441 billion in 2012, negatively impacted by cost pressure including minimum wage increases.
The underlying profit excluded a one-off gain on sale of the company’s head office property in 2013.
HERO opened 77 net new stores across all formats during 2013, to reach 682 stores in total, comprising 51 Giant Ekstra, 158 Hero Supermarket and Giant Ekspres, 316 Guardian health and beauty stores and 157 Starmart convenience stores.
The company had raised Rp2.98 trillion via rights issue program. It ended the year 2013 with net cash of Rp1.33 trillion, compared with net borrowings of Rp856 billion at the end of 2012.