ACES – Target net profit to grow 10% in 2023

Ace Hardware Indonesia's (ACES) target is in line with Indonesia's economic growth projection this year in the range of 5.3%. One of the strategies that will be implemented to support this target is the expansion of the addition of 10 new outlets. Currently, ACES already has 228 outlets. ACES will also develop human capital and increase the uptake of digitalization in operations. For this strategy, ACES prepared a capex worth IDR200-300 bn. This number is still the same as last year's capex amount. As of 3Q22, ACES booked a net profit of IDR355.5 bn, up 9.8% yoy. (Source : Investor Daily)