In today’s briefing:
- Sumber Alfaria Trijaya (AMRT IJ) – Gaining Momentum and Scale
Sumber Alfaria Trijaya (AMRT IJ) – Gaining Momentum and Scale
- A recent conversation with Sumber Alfaria Trijaya (AMRT IJ) which operates Alfamart and AlfaMidi mini-markets in Indonesia further cemented a positive view on the outlook for the company.
- The company should easily surpass its target for 1,000 new stores this year, with increasing basket sizes and fee-based income and some new features such as BeanStop potentially improving returns.
- Sumber Alfaria Trijaya remains a core retail holding with an increasing investor following after MSCI inclusion. Valuations remain attractive versus history and ROE at 25% is higher than pre-COVID levels.
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