JAKARTA - PT Supra Boga Lestari Tbk (RANC), the owner of Ranch Market retail network, faced a loss of IDR 83.66 billion in 2022. The performance decline resulted from increased costs of sales during the stagnation of revenue last year.

In the 2022 Financial Report quoted Thursday (30/3), Meshvara Kanjaya, President Director of Supra Boga Lestari, revealed that the net income clocked up to IDR 2.89 trillion, relatively unchanged from IDR 2.88 trillion in 2021, whereas the gross profit declined from IDR 679.09 billion to IDR 650.50 billion due to the increased costs of revenue of IDR 40 billion.

Furthermore, the loss before income taxes was reported at IDR 86.03 billion due to increased general and administrative expenses, as well as financial expenses, while the interest income shrank. In 2021, the profit before taxes managed to reach IDR 8.51 billion, while the current year's profit hit IDR 9.83 billion.

Sales contributed the most to the total revenue with IDR 2.86 trillion, followed by consignation of IDR 36.48 billion. For comparison, in 2021, the sales clocked up to IDR 2.85 trillion, while consignation generated IDR 31.57 billion.

In terms of geographic aspects, revenue in the western region (Greater Jakarta Area and Sumatra) was IDR 2.54 trillion, while eastern Indonesia (East and Central Java, Kalimantan, and Maluku) turned in IDR 378.82 billion of revenue. In 2021, sales in western Indonesia were at IDR 2.54 trillion, whereas the eastern brought home IDR 396.52 billion. (LK/ZH)