Ace Hardware Owned By Conglomerate Kuncoro Wibowo Records IDR 3.31 Trillion Sales And IDR 242.39 Billion Profit In Semester I 2022

Ace Hardware outlets. (Photo: Doc. Supermall Karawaci)

JAKARTA - PT Ace Hardware Indonesia Tbk (ACES) recorded an unsatisfactory performance in the first half of 2022. The company owned by the conglomerate Kuncoro Wibowo recorded a decline in sales and net profit in the first six months of this year.

In the company's financial report, quoted on Thursday, August 11, net sales of Ace Hardware reached IDR 3.31 trillion in the first semester of 2022. This value decreased by 2.36 percent compared to the same period last year, which was IDR 3.39 trillion.

With declining sales, ACES' cost of goods sold also fell by 1.72 percent from IDR 1.74 trillion in the first semester of 2021 to IDR 1.71 trillion in the January-June 2022 period.

Thus, ACES recorded a gross profit of IDR 1.59 trillion in the first semester of 2022, or decreased by 3.63 percent from the same period last year which was recorded at IDR 1.65 trillion.

At the same time, operating expenses also fell slightly from the previous IDR 1.35 trillion to IDR 1.34 trillion in the first semester of 2022. In addition, financial expenses were recorded at IDR 26.80 billion in the first half of this year, down 12.31 percent from the same period in previous year IDR 29.16 billion.

After deducting other expenses, ACES earned profit for the period attributable to the parent company of IDR 242.39 billion in semester 1-2022. This realization decreased by 12.47 percent from net profit in the first semester of 2021 of IDR 276.93 billion.