Pizza Hut Outlet Manager Suffers Rp35.4 Billion Loss in Q3 2022 Despite Increased Sales

Pizza Hut's parent company, PT Sarimelati Kencana Tbk (PZZA), reported a 5.32% increase in sales to Rp2.63 trillion (approximately US$176 million), up from Rp2.50 trillion (approximately US$167 million) in the previous period.

However, PZZA incurred a net loss of Rp35.49 billion (approximately US$2.4 million) in the third quarter of 2022. This is a reversal from a profit of Rp13.30 billion (approximately US$0.9 million) in the same period the previous year.

According to IDX Channel, sales in Jakarta dominated, contributing Rp1.05 trillion (approximately US$70 million), followed by Java and Bali at Rp726.89 billion (approximately US$49 million), and Sumatra at Rp391.59 billion (approximately US$26 million).

The financial report shows that the company's cost of goods sold was Rp853.51 billion (approximately US$57 million), down from Rp861.51 billion (approximately US$58 million), and other operating expenses were Rp11.60 billion (approximately US$0.8 million).

However, several other expenses increased, namely selling expenses, which rose to Rp1.63 trillion (approximately US$109 million), and general and administrative expenses, which reached Rp170.09 billion (approximately US$11 million).

As of the end of September 2022, PZZA's total assets grew by 8.89% to Rp2.41 trillion (approximately US$161 million), compared to Rp2.21 trillion (approximately US$148 million) at the end of the previous year. The company's liabilities were recorded at Rp1.34 trillion (approximately US$90 million), and equity at Rp1.07 trillion (approximately US$71 million).

(read: 10 of the World's Most Expensive Pizzas, Some Costing as Much as an LCGC Car)