KFC Operator's Losses Soar 6,168% in First Half of 2024
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PT Fast Food Indonesia Tbk's financial report, the operator of Kentucky Fried Chicken (KFC), published by the Indonesia Stock Exchange (IDX), shows a net loss attributable to the parent entity of Rp348.83 billion in the first half of 2024.
This net loss soared by 6,168% year-on-year (yoy) from Rp5.56 billion in the first half of 2023.
Revenue for the company, with the stock code FAST, reached Rp2.48 trillion in June 2024, a decrease of 25.75% (yoy) from Rp3.11 trillion in June 2023.
By segment, third-party revenue from food and beverages reached Rp2.46 trillion in the first half of 2024, down 20.51% (yoy) from Rp3.1 trillion in the first half of 2023.
Third-party revenue from consignment sales commissions amounted to Rp10.45 billion, down 11.8% (yoy) from Rp11.85 billion. Delivery service revenue was recorded at Rp956.79 million, plummeting 28.14% (yoy) from Rp1.33 billion the previous year.
Meanwhile, the cost of goods sold for the company, which also manages Taco Bell, reached Rp1.05 trillion in the first half of 2024, down 7.08% (yoy) from Rp1.14 trillion in the same period last year.
FAST's assets are now recorded at Rp3.96 trillion, up 1.45% from Rp3.91 trillion in December 2023.
Liabilities totaled Rp3.5 trillion, and equity amounted to Rp467.11 billion in the first half of 2024.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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