TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Ramayana records flat performance in Q1

Anton Hermansyah (The Jakarta Post)
Jakarta
Wed, May 3, 2017 Published on May. 3, 2017 Published on 2017-05-03T09:33:30+07:00

Change text size

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
PT Ramayana Lestari Sentosa finance and accounting director Suryanto answers questions during a press conference in Jakarta on Tuesday. PT Ramayana Lestari Sentosa finance and accounting director Suryanto answers questions during a press conference in Jakarta on Tuesday. (JP/Anton Hermansyah)

Fashion retailer PT Ramayana Lestari Sentosa saw its sales and net profits flatten out in the first quarter of 2017.

Ramayana's sales contracted 0.2 percent year-on-year (yoy) to Rp 1.48 trillion (US$111.14 million) compared to Rp 1.49 trillion in the first quarter of 2016.

Its net profits also fell by 0.7 percent yoy to Rp 1.08 billion compared to the Rp 1.09 billion recorded in the same period last year.

"The numbers are flat but our performance is better than other retailers. We also recorded positive same store sales growth of 1 percent yoy," Ramayana finance and accounting director Suryanto said during a press conference in Jakarta on Tuesday.

Previously, Lippo Group's PT Matahari Department Store announced negative yoy growth of 0.55 percent in sales and a 40.4 percent drop in net profits.

Suryanto added that the flat performance was because of recent security issues in Jakarta that had caused people to hold off on their purchases.

Greater Jakarta made up of 33 percent Ramayana's total sales.

"Meanwhile in other regions, a recovery in commodity prices has not yet boosted public purchases," he said. (bbn)

Your Opinion Matters

Share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.

Share options

Quickly share this news with your network—keep everyone informed with just a single click!

Change text size options

Customize your reading experience by adjusting the text size to small, medium, or large—find what’s most comfortable for you.

Gift Premium Articles
to Anyone

Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!

Continue in the app

Get the best experience—faster access, exclusive features, and a seamless way to stay updated.