Highlights

 A solid FY2017 top-line growth (+20.3% y/y) to IDR 5.9 tn, supported by an aggressive store expansion.

 Year-end momentum boosted 4Q2017 net sales to IDR 1.7 tn (+17.3% q/q & 23.9% y/y).

 Projected strong 1Q18 sales, with 3 new stores opened year to date.

 Enhancement in inventory management, with inventory days for FY2017 declined to 202 days, from 220 days in FY2016.

INDONESIA
PT Phillip Securities Indonesia
ANZ Tower Level 23B, JlJendSudirman
Kav. 33A Jakarta 10220 – Indonesia
Tel +62-21 5790 0800 Fax +62-21 5790 0809
Website: www.phillip.co.id