Ranch Market operator revenues up 21%

JAKARTA. Publicly-listed PT Supra Boga Lestari (RANC), the operator of Ranch Market and Farmers Market surpermarkets, gained Rp 1.08 trillion (US$110.62 million) in total revenues last year, up 21 percent from 2011.

According to its latest financial report, revenues from the Ranch Market division accounted for more than half of its revenues with Rp 617.58 billion, while the rest came from Farmers Market outlets. Both divisions showed strong growth, recording double-digit increases.

Meanwhile, during 2012, RANC's net profits jumped 66.2 percent to Rp 36.46 billion from 2011, driven by higher operating income and lower financing expenses.

The company went public last year and generated Rp 156.45 billion by releasing 20 percent of its enlarged shares to the public during an initial public offering (IPO). So far, it has used Rp 30 billion of the IPO funds to pay off its debts to CIMB Niaga bank, Rp 20.49 billion to finance the opening of new outlets and Rp 30 billion to pay off working debts to its suppliers.

The company currently owns 17 Ranch Market and Farmers Market outlets in Cikarang, West Java; Balikpapan, East Kalimantan; Jakarta; and Surabaya, East Java. It has previously stated that it plans on opening five additional outlets in 2013, consisting of two Ranch Market outlets and three Farmers Market outlets.

By the end of December 2012, the company had Rp 570.08 billion worth of total assets, while its liabilities and equities stood at Rp 210.77 billion and Rp 359.31 billion respectively. Supra Boga's shares closed at Rp 880 apiece on Monday, up 1.1 percent from last Thursday.

(The Jakarta Post)