AMRT - A 14.8% yoy earnings growth in 1Q24, despite higher costs' pressure

AMRT - A 14.8% yoy earnings growth in 1Q24, despite higher costs' pressure Sumber Alfaria Trijaya' (AMRT) earnings reached IDR890 bn (+14.8% yoy/-26.6% qoq) in 1Q24. AMRT' lower earnings growth qoq in 1Q24 mainly due to higher cost pressures qoq (cogs and opex). Note that, AMRT' higher opex in 1Q24 was due to Eid' bonus for employees. AMRT' revenue grew 12.1% yoy/8.9% qoq to IDR29.3 tn in 1Q24, due to higher sales yoy/qoq amidst Ramadan. AMRT' gross profit grew 12.2% yoy/3.6% qoq to IDR6.4 tn in 1Q24, despite higher cogs yoy/qoq. While, AMRT' operating profit grew 14.8% yoy but declined 30.3% qoq due to higher opex on its employees' Eid bonus. All in all, AMRT' gross and net margin remained the same yoy, while its operating margin slightly expanded yoy, in 1Q24. (Source: Company, KBVS)