Jul 13, 2010

Ramayana 1H sales rises 13.5%

One of Indonesi's largest retailer PT Ramayana Lestari Sentosa Tbk (RALS) is estimated to book 1H 2010 sales of Rp2.4 trillion, a 13.5% increase compared to the same period last year.
In a morning notes issued by PT Danareksa Sekuritas, the sales has reached 39.7% of the brokerage's forecast this year. 
"Ramayana's sales in June was Rp472 billion. Around 46% of the sales came from outside Java," the notes said.
Danareksa estimates Ramayana sales in 2H 2010 will increase in line with Idulfitri. Sales during fasting month usually 4.5 folds higher than normal sales.
Danareksa maintains sales forecast of Rp6,1 trullion with gross margin at 23.9% in 1H 2010, a slightly lower than April's level of 23.5%.
The retailer plans to open 10-12 new stores this year worth Rp350 billion. "We remain come with buy recomendation with bright outlook," the notes said.

Disclosure: No position at the stock mentioned above.

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