Aldira Sunrise 5 September 2024

AMRT recorded an average SSSG of 5% in 7M24
Sumber Alfaria Trijaya (AMRT) recorded an average same-store sales growth (SSSG) of 4-5% in 7M24. This was driven by well-controlled inflation at the level of 2.51% yoy in 6M24, which helps to maintain people’s purchasing power, coupled with an increase in the frequency or number of consumer visits to shop at Alfamart stores due to promotional offers provided. The company expects SSSG growth to continue growing positively until the end of the year.
PPRE obtained IDR 6.3T new contract in 8M24
PT PP Presisi (PPRE) obtained IDR 6.3T new contracts in 8M24 (+36% yoy), reaching 80% of the FY24 target of IDR 8T. The majority of the new contract value comes from external parties at 85% and PP Group at 15%. These results are in line with the company’s strategy to expand market share outside the PP Group. With existing progress, PPRE is optimistic that it can achieve its year-end target. (Kontan)
PTRO’s net profit was down 88% yoy in 1H24
Petrosea (PTRO) posted a net profit of USD 1.32M (-88.59% yoy) despite revenue growing by 16.06% yoy to USD 318.02M in 1H24. In detail, construction and engineering revenue increased to USD 141.24M (+96.43% yoy) while revenue from the mining segment weakened by 27.15% yoy to USD 130.57M. In line with the increase in revenue, PTRO’s direct operating costs also increased 19.33% yoy to USD 277.35M, which brings gross profit to reach USD 40.67M in 1H24 (-2.25% yoy). However, the company also recorded an increase in other expenses, such as selling and administrative expenses to USD 26.57M, interest and finance expenses of USD 13.34M, and final tax expenses which reached USD 4.04M. (Bisnis Indonesia)