AMRT – 300 new store openings in 3Q23

AMRT – 300 new store openings in 3Q23 Sumber Alfaria Trijaya (AMRT) allocates the capex to work on the Alfagift digital application and the addition of new outlets and warehouses. Alfagift is AMRT's strategy to increase the utility of omnichannel applications in growing business. There are more personalized promo customization features for each consumer's shopping habits and the best offer programs, especially primary products in the Alfagift application. In addition, AMRT has operated 18,735 stores in 9M23 (+300 stores in 3Q23) and targets an additional 800-1,000 stores opened this year. The capex has been absorbed amounting to IDR1.5-1.8 tn, most of which is used for renovations, store openings and warehouse openings. Note that, AMRT posted revenue of IDR53.83 tn (+12.42% yoy) and net profit of IDR1.61 tn (+28.08%) in 1H23. (Source: Kontan)