Corporate Updates

Sarimelati Kencana (PZZA IJ): Weak result despite festive season

Sarimelati Kencana (PZZA IJ)
HOLD-UPF / TP: IDR:515 (-1.0%)
Analyst: Chandra Pasaribu

Weak result despite festive season
• Further below expected result
• Possible further pressure on purchasing power
• Slower-than-expected recovery led to earnings downgrade
• Downgrade to HOLD-UPF with new TP of IDR515

Corporate Updates

Sarimelati Kencana (PZZA IJ): Weak result despite festive season

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