Rising From The Destruction, Pizza Hut Indonesia's Profits Succeeded In Soaring 201 Percent In The First Semester Of 2021 Despite Declining Revenue

Illustration. (Photo: Unsplash)

JAKARTA - PT Sarimelati Kencana Tbk recorded a positive performance in the first six months of this year. The holder of the Pizza Hut brand in Indonesia was able to achieve a profit surge in the first semester of 2021.

In the financial report of the issuer codenamed PZZA published on the Indonesia Stock Exchange (IDX) website, quoted on Friday, August 20, the company recorded a profit growth of up to 201 percent compared to the same period last year.

In fact, Pizza Hut's revenue during January to June 2021 decreased by 7.14 percent year on year (yoy) to IDR 1.69 trillion from the previous IDR 1.82 trillion.

However, Sarimelati Kencanan cut the cost of goods sold by 10 percent to Rp566.96 billion. PZZA is also able to cut sales expenses, which include salaries and benefits, as well as ongoing franchise expenses.

In addition, Pizza Hut Indonesia also reduces general and administrative expenses, to other operating expenses. In addition, PZZA pocketed an increase in operating income.

From the results of cutting a lot of expenses, PZZA managed to book an operating profit of IDR 57.46 billion. This figure shot up 114 percent compared to the first semester of 2020 which was Rp. 26.78 billion.

As a result, PZZA managed to book a profit for the current period reaching Rp31.52 billion. This achievement jumped 201 percent compared to the previous Rp10.47 billion.