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KFC's Revenue Increased, but Net Profit Dropped 67.9% in Q1 2022

Vika Azkiya Dihni 07/06/2022 10:40 WIB

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The Kentucky Fried Chicken (KFC) franchise operator, PT Fast Food Indonesia Tbk (FAST), reported a net loss again in Q1 2022. However, the net loss decreased by 67.9% to Rp19.73 billion.

Net Profit/Loss (KFC) PT Fast Food Indonesia Tbk (FAST) Q1 (2019-2022)

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KFC's Revenue Increased, but Net Profit Dropped 67.9% in Q1 2022

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Net Profit/Loss (KFC) PT Fast Food Indonesia Tbk (FAST) Q1 (2019-2022)

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The Kentucky Fried Chicken (KFC) franchise operator, PT Fast Food Indonesia Tbk (FAST), reported a loss again in Q1 2022. However, the net loss decreased by 67.9% to Rp19.73 billion from Rp611.46 billion in the same period last year.

Despite the loss, the company's revenue increased in the first three months of this year to Rp1.28 trillion from Rp1.08 trillion.

Food and beverage revenue contributed Rp1.26 trillion in Q1 2022, up from Rp1.06 trillion.

Commission from consignment sales contributed Rp11.94 billion, down from Rp12.80 billion. Delivery service revenue amounted to Rp321.94 million, down from Rp2.48 billion.

Meanwhile, total assets decreased from Rp3.5 trillion in Q4 2021 to Rp3.49 trillion in Q1 2022.

Total liabilities decreased to Rp2.58 trillion from Rp2.6 trillion. Total equity decreased to Rp914.16 billion from Rp919.18 billion.

Citing the financial report published on the Indonesia Stock Exchange (BEI), the company's losses were partly due to the impact of the Covid-19 pandemic, which reduced consumer purchasing power.

"Weakening consumer purchasing power and public policies implemented to curb the spread of Covid-19 resulted in operational disruptions, causing sales recovery to be slower than previously anticipated. As a result, the company still experienced a net loss," the report stated.

Editor : Annissa Mutia

"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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KFC's Revenue Increased, but Net Profit Dropped 67.9% in Q1 2022

KFC's Revenue Increased, but Net Profit Dropped 67.9% in Q1 2022

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KFC's Revenue Increased, but Net Profit Dropped 67.9% in Q1 2022

KFC's Revenue Increased, but Net Profit Dropped 67.9% in Q1 2022

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