Companies / Indonesia
PT Hero Refusing To Let Carrefour Surge Derail Its Ambitions
February 2008 | Company Finance AlertIndonesian supermarket, hypermarket and convenience retailer PT Hero Supermarket Tbk has announced strong 2007 financial results. The retailer, which is owned by Hong Kong firm Dairy Farm, saw sales for the year rise by 7% to IDR5.15trn (US$568.5mn), while net profit increased by 7% to IDR69bn (US$7.62mn). With profits having withstood Hero's aggressive expansionary efforts in 2007, 2008 is likely to see more of the same as the retailer looks to gain ground on resurgent market leader
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