JAKARTA (Yosefardi) – PT Sumber Alfaria Trijaya (AMRT) Tbk, operator of Alfamart convenience stores, posted net loss of Rp38.6 billion in the first quarter of 2015 against profit of Rp10 billion in the corresponding quarter of 2014.
Alfamart recorded sales revenues of Rp10.3 trillion in the quarter, grew by 11.8% from the same period of 2014.
The convenience store managed to grow its gross profit to Rp1.98 trillion from Rp1.65 trillion in the first quarter of 2014, but higher selling & distribution expenses plus general & administrative expenses forced the company to post operating profit of Rp103.6 billion only, relatively flat compared to Rp102.65 billion in the first quarter of 2014.
As finance costs jumped 54% to Rp145 billion, Alfamart recorded net loss of Rp38.6 billion in the quarter.