Even Though It Is Still A Pandemic And Its Profit Has Reached 26 Percent, Ace Hardware Belongs To Kuncoro Wibowo Conglomerate Aggressively Adding New Outlets

JAKARTA - PT Ace Hardware Indonesia Tbk continues to actively open new outlets even though the pandemic is still hitting the country. The company coded ACES shares has opened three new outlets in 2021.

Quoted from Ace Hardware's official statement published on the information disclosure page of the Indonesia Stock Exchange (IDX), Wednesday, April 21, the company has just opened a new outlet located in Yogya Lembang Junction, Bandung, West Java. This outlet was officially opened on April 22, 2021.

With the opening of these new outlets, the total company owned by Kuncoro Wibowo conglomerate has 210 outlets throughout Indonesia. Previously, Ace Hardware opened in Greenlake City, Tangerang, Banten on April 10, 2021.

On February 22, 2021, Ace Hardware also opened an outlet with an area of 3.100 square meters in Kudus, Central Java. Even so, they have also closed one outlet because the lease period has ended.

This closed outlet is located at Panam Square Mall, Pekanbaru, Riau which has an area of 2.900 square meters. This outlet has been operating for almost seven years or to be precise since 18 June 2014.

For information, Ace Hardware has not announced their financial statements as of the end of December 2020. However, for the financial statements at the end of the September 2020 period, Ace Hardware recorded a decrease in net profit to IDR 529.70 billion compared to the same period in the previous year of IDR 721.71 billion, aka dropping 26.60 percent on an annual basis (year on year/yoy).

The company's revenue also fell 8.27 percent to IDR 5.48 trillion at the end of the third quarter of 2021 compared to the same period in the previous year which was valued at IDR 5.97 trillion.