Ace Hardware Sets Aside Rp 250b for 2017 Capital Expenditure
Jakarta. Ace Hardware Indonesia, a retailer specializing in home improvement and lifestyle products, has set aside Rp 250 billion ($17 million) for capital expenditure next year to expand their operations by opening new outlets to boost sales revenue.
The company's corporate secretary, Helen R. Tanzil, said Ace Hardware plans to open new 10 outlets not just in the country's most populous island of Java, but also in Balikpapan, East Kalimantan and Pekanbaru in Riau.
Ace Hardware now operates 127 outlets across the nation, after it opened its 11th new outlet in 2016 at Suzuya Mall in Aceh.
Ace Hardware's net income grew by 20.7 percent to Rp 390 billion in the January-September period this year, from the same period last year. Net sales rose by 2.9 percent to Rp 3.55 trillion.
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