PT Sarimelati Kencana booked solid net profit growth as of September due to a sharp increase in sales across the growing number of Pizza Hut outlets it operates in Indonesia.
The company’s net profit increased 47 percent year-on-year (yoy) to Rp 149 billion (US$ 10.60 million) as of September on the back of a significant 14.2 percent increase in net sales to Rp 2.9 trillion in the same month.
“We are pleased to continue delivering strong results in the nine months of 2019 and expect continued positive performance throughout the rest of this year,” Sarimelati Kencana president director Steven Christopher Lee said in Jakarta on Nov. 14.
By this month, the company had opened 50 new outlets and now operates a total of 501 outlets across the country under the Pizza Hut brand, which comprises Pizza Hut Restaurant (PHR), Pizza Hut Delivery (PHD) and Pizza Hut Express (PHE).
When asked about its plans for next year, Sarimelati Kencana operations director Jeo Sasanto said it planned to expand its business to tap the potentials of several provinces in eastern Indonesia.
Sarimelati Kencana was established in 1987 and holds the Pizza Hut brand under agreement with Pizza Hut Asia Pacific Franchisee Pte. Ltd, a subsidiary of US fast-food company Yum! Brands Inc.
Yum! Brands also operates KFC, Taco Bell and WingStreet.
Sarimelati Kencana has been listed on the Indonesian Stock Exchange (IDX) since May 2019 under the ticker symbol “PZZA”. The company’s majority shares are owned by PT Sriboga Raturaya, which owns and operates a variety of food and beverage companies, including franchises and food manufacturers. (bry)