Loss Of Rp. 298 Billion, KFC Closes 33 Stores At Airports And Stations

Illustration. (Photo: Doc. KFC Indonesia)

JAKARTA - The COVID-19 pandemic is still a frightening specter for the business world in the country. Most recently, the manager of the KFC fast food restaurant, PT Fast Food Indonesia Tbk (FAST), had to close 33 outlets.

Citing the information disclosure of Fast Food Indonesia on the information disclosure page of the Indonesia Stock Exchange (IDX), Wednesday, December 16, the company has several considerations regarding the closure of the outlet. First, because KFC outlets are located at transit points such as airports or stations.

"Second, because the owners of the property area where KFC outlets are located are temporarily closed. The 33 KFC outlets do not mean that they are closed or stop operating, because if things improve and the property area reopens, we plan to re-operate the 33 outlets," clearly the management of fast Food Indonesia.

The outbreak of the COVID-19 virus has indeed depressed the performance of this fried chicken manufacturing company. For your information, Fast Food Indonesia recorded a loss due to decreased revenue until the third quarter of 2020.

Based on the company's financial statements as of September 2020, Fast Food Indonesia posted a loss for the period of IDR 298.33 billion. It is inversely proportional to the profit position of IDR 175.7 billion in the same period the previous year.

This loss was caused by a correction in revenue of 28.47 percent on an annual basis to only IDR 3.59 trillion. Even before the pandemic hit, Fast Food Indonesia projected to reap revenues of IDR 8 trillion in 2020.

Fast Food Indonesia has also revised its revenue target this year to only around IDR5.03 trillion. Regarding the target of opening new outlets, they are only able to add 10 outlets from the plan before the pandemic with the addition of 20-25 new outlets in 2020.

However, Fast Food Indonesia is optimistic that their performance in 2021 will be much better than this year. It will open 25 more outlets that will be built with designs and concepts similar to the KFC Kemang Timur, KFC Emerald Bintaro, and KFC NBN outlet models.

"With the hope of a good vaccine distribution and lots of positive news related to the pandemic, we are sure that there will be a desire for the public to regroup by still paying attention to and using health and safety protocols," hoped Fast Food Indonesia's management.

They also hope that government regulations that prevent tourism businesses can be reopened so that they can provide better opportunities for doing business.

"Therefore, we will make maximum progress so that we can achieve our sales target," concluded KFC management.