Impressive Sales Figures
ACES posted the upswing of 20.3% y-y in 2017’s net sales coupled by picking up sales in its overall segments. Another to 17-store launch in 2017, the success in merchandising and marketing strategies beefing up sales in new stores and mature stores. The smaller new stores also contributed to the hike of 9.86% y-y in sales figures per sqm.

Effective Strategies Underpinning Accelerated Growth in Sales
Likewise, it also successfully decreased the number of days in inventory from 216 days in 3Q17 into 202 days in 4Q17. Indeed, it was capable of posting cash of IDR902 billion despite aggressive business expansion it carried on.
We project that ACES is likely capable of posting the growth of 9% in 2018’s sales underpinned by the internal refrainment coupled with the success in marketing and merchandising strategies. Furthermore, its net margin likely beefs up from 13.1% in 2017 into 13.9% in 2018; as a result, it is capable of posting the growth of 15.8% in 2018’s net profit (vs 2017’s net profit of 9.4%).


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