StockMarketWire.com - Dairy Farm International's 83.9%-owned subsidiary, PT Hero Supermarket, posts a total underlying net loss of Rp144bn for 2015 compared with a net profit of Rp44bn in 2014.

Net revenues rose by 12% to Rp14,563bn and gross profits rose by 9% to Rp3,398bn.

President director Stephane Deutsch said: "While good sales momentum was maintained in the last quarter, profitability for the year was adversely affected by lower margins in both the Food and Health and Beauty businesses, together with higher expenses and labour costs. Despite this, the Food business gained market share in a difficult consumer environment, and IKEA is performing ahead of expectations. Full-year free cash flow improved strongly, and the Company ended the year in a net cash position. Trading conditions are expected to remain challenging for the current year."


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