Apr 3, 2011

KFC reports 9.67% growth in earning

Kentucky Fried Chicken (KFC) license holder PT Fast Food Indonesia Tbk today reported Rp199.59 billion earning last year, representing a 9.67% increase from Rp181.99 billion in the previous year. 
In a consolidated financial statement submitted to Indonesia Stock Exchange (IDX), the earning growth was mainly underpinned by a 123.95% jump of net other income.
At the operational line, Fast Food booked a 7.99% decrease in operating profit to Rp203.55 billion from Rp221.24 billion.
Gross profit made a 11.56% increase to Rp1.64 trillion from Rp1.47 trillion. Fast Food's sales, which is also affiliated company of Salim Group, rose 18.78% to Rp2.91 trillion from Rp2.45 trillion.
Food was still a main driver to the consolidates sales with contribution of Rp2.55 trillion, while beverages and others contributed Rp214.75 billion and Rp146.29 billion. 
For the period ended December last year, PT Gelael Pratama has controlled 43.84% shareholding in Fast Food, PT Megah Eraraharja owns 35.84% stake, HSBC Fund Services Clients holds 9.64%, and public holders own 10.36% stake.
Indonesian tycoon Anthony Salim is acting as President Commissioner in Fast Food, while key executive of Salim Group, Benny Setiawan, becomes Commissioner as well.

Disclosure: No position at the stock mentioned above.

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