Jakarta, CNBC Indonesia – KFC store retailer issuer, PT Fast Food Indonesia Tbk (FAST) recorded a significant decrease in net profit, which was 89.24% to Rp 5.41 billion in the first quarter of 2020. Compared to the previous year, FAST still recorded a profit of Rp 50 31 billion.
In the first three months of this year, FAST posted revenue of Rp 1.51 trillion, a decrease of 0.84% from the same period in the previous year of Rp 1.53 trillion.
The details, food and beverage sales contributed the most, Rp 1.49 trillion. CD consignment sales of Rp 20.64 billion and interagency services of Rp 958 million.
At the same time, the company’s cost of goods sold also increased from Rp 572.97 billion to Rp 585.14 billion.
Selling and distribution expenses from the previous Rp 725.39 billion, rose to Rp 755.75 billion. The increase also occurred in general and administrative expenses, operating expenses and other operating income.
As a result, with the first quarter’s performance, the company’s basic earnings per share has been reduced to Rp 1 per share from Rp 13 per share.
In a statement delivered by FAST management beforehand, the Covid-19 pandemic had a 25% impact on KFC Indonesia’s income. KFC also estimates that net profit will be reduced by 75%.
The impact was immediately felt by the company with its previous large-scale social restriction (PSBB) policy, causing 39 outlets managed by KFC to stop operating.
“The contribution of stalled operational activities contributes 25% -50% to revenue,” wrote FAST, in his explanation through information disclosure, quoted Wednesday (1/7/2020).
Not only that, the company also cut employee salaries and implemented rotating work for all employees in outlets affected by the Covid-19 pandemic.
