Bright Spots of Retail: ACE Hardware & Pizza Hut

PT ACE Hardware Tbk (ACES) booked net profit of Rp426 billion in the first half of 2018, an increase of nearly 30% from the corresponding period last year, thanks to strong sales revenue growth. PT Sarimelati Kencana Tbk (PZZA), owner of Pizza Hut outlets, meanwhile, reported net profit of Rp81.9 billion in the first half, nearly doubled from the same period last year.

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Update on IPOs

PT MAP Aktif Adiperkasa, subsidiary of Mitra Adiperkasa (MAPI), has this morning kicked off its initial public offering (IPO) for 550 million shares, representing 18.49% of its total issued and paid-up capital.

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