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Corporate Updates

Ace Hardware Indonesia (ACES IJ): Mar-19: Improving Sales but Weak SSSG

Ace Hardware Indonesia (ACES IJ)
Analyst: Vincent Yunnaraga
HOLD-OPF / TP: IDR1,835 (+5.2%)
Mar-19: Improving Sales but Weak SSSG
• Mar-19 monthly SSSG reached moderate single digit
• Monthly sales improved in Mar-19
• Boom sales to support ACES sales figures in Apr-19
• Fairly valued, downgrade to HOLD-OPF with unchanged TP
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