Hotel Sahid Still Loses Rp12.55 Billion Even Though Its Revenue Grows 11 Percent To Rp34.56 Billion

Sahid Hotel. (Photo: Wikimedia Commons)

JAKARTA - PT Hotel Sahid Jaya International Tbk (SHID) has moved to "recover" although it still recorded a loss in the first semester of 2021. The company's loss in the first semester of 2021 was recorded to have decreased compared to the same period the previous year.

In Hotel Sahid's financial report, quoted Tuesday, September 14, the performance improvement was supported by the company's revenue which grew 11.51 percent to Rp 34.56 billion in the first semester of 2021 compared to the same period the previous year of Rp 30.99 billion.

In detail, revenue from room rental contributed Rp. 17.61 billion, up from Rp. 10.80 billion in semester 1 of 2020. Then income from food and beverage contributed Rp. 8.78 billion, income from rental of shop space of Rp. 1.13 billion, income from rental and service of apartments contributed Rp. 710.77 million.

Furthermore, consulting and management services revenues amounted to Rp224.60 million and other revenues amounted to Rp6.10 billion. In addition, Hotel Sahid Jaya managed to reduce the cost of goods sold to Rp11.59 billion in the first semester of 2021, or slightly lower than the cost of goods sold of Rp11.60 billion in the first semester of 2020.

As a result, Hotel Sahid recorded a gross profit of Rp. 22.97 billion, an increase of 18.46 percent from gross profit of the same period the previous year of Rp. 19.39 billion. Meanwhile, operating expenses were recorded at Rp32.62 billion or 11.28 percent lower than the operating expenses in the first semester of 2020 which reached Rp36.30 billion.

Thus Hotel Sahid Jaya posted a loss attributable to owners of the parent entity of Rp12.55 billion. The net loss was cut by 43.62 percent from the SHID net loss of IDR 22.26 billion as of June 30, 2020.