JAKARTA. PT Sari Kreasi Boga Tbk (RAFI), a processed food manufacturer and the holder of Kebab Baba Rafi franchise license, only managed to collect net profit of IDR 24.62 billion within the first nine months (9M) of 2024.

This number is 76.8% lower compared to the same period last year, in which RAFI managed to score net profit of IDR 106.05 billion.

Contrastingly, from the top-line, we can see that RAFI’s revenue soaring 21.8% year-on-year (yoy) to IDR 356 billion in 9M 2024. In the same period last year, it only reached IDR 292.38 billion.

RAFI’s gross profit in 9M 2024 actually improved to 9.65% from 7.7% seen in the same period last year. However, RAFI’s other income was reported at minus IDR 8.01 billion in 9M 2024, a total contrast with IDR 87.9 billion recorded in the same period last year.

Until September 30, 2024, RAFI’s market was still concentrated in Jakarta, covering 55% of total sales. East Java sales only contributed 15%, and West Java, 13%.

This record is different from 9M 2023, in which East Java sales managed to reach 32%, followed by Jakarta 18%, Central Java 18%, and West Java 10%. (KR/ZH)