JAKARTA. PT Sari Kreasi Boga Tbk (RAFI), a supplier and owner of Baba Raffi kebab franchise, recorded net profit of IDR 127.47 billion in 2023, skyrocketing as high as 925% year-on-year (yoy).

At the top-line, RAFI’s revenue only increased 7.75% yoy in 2023 to IDR 407.88 billion. Its operating profit also only grew 97% yoy to IDR 45.99 billion in 2023.

According to data compiled by IDNFinancials, RAFI’s net profit soared due to the high other revenue in 2023, totalling IDR IDR 88.98 billion. For comparison, in the previous year, other revenue clocked up to minus IDR 9.07 billion.

Throughout 2023, raw and auxiliary materials’ revenue primarily contributed to RAFI’s total revenue, bringing a total of IDR 383.09 billion. Meanwhile, food and beverage sales were recorded at IDR 21.2 billion, and franchise revenue was at IDR 3.17 billion.

DKI Jakarta remains the primary source of income of RAFI, contributing sales of 38% of total revenue in 2023. The next region was East Java, which contributed 23% of total revenue, followed by Central Java of 15%. (KR/ZH)