JAKARTA. PT Mega Perintis Tbk (ZONE), a clothing manufacturer and retail company, booked net profit of IDR 17.08 billion in the first quarter of 2024, down 6.9% year-on-year (yoy) from the same period last year. 

In the top line, ZONE's net sales increased 40.61% yoy to IDR 214.86 billion in Q1 2024. In the same quarter last year, its net sales only reached IDR 152.8 billion.

However, the increased sales of ZONE entailed an increase in its costs of sales by 117% yoy to IDR 103.37 billion. Previously, in Q1 2023, its costs of sales were only recorded at IDR 47.56 billion.

In addition, ZONE's selling expenses also reported an 18% yoy increase to IDR 6.29 billion, plus recording loss on foreign exchange of IDR 88.89 million.

For the record, ZONE's net sales were still dominated by clothing products, generating IDR 101.91 billion. The remaining IDR 3.32 billion came from accessories' sales.

Based on its area, most of ZONE's sales were still concentrated in Java, with total net sales of IDR 132.26 billion, while sales outside Java were recorded at IDR 82.5 billion.

As of now, it has 4 distribution channels, the biggest of which is showroom, contributing sales of IDR 120.8 billion. Then, department stores brought in IDR 50.27 billion, followed by online marketplace of IDR 39.3 billion, and other channels of IDR 4.47 billion. (KR/ZH)