AHI sales slow down in first quarter sans Ace

In an indication that its move to drop its Ace Hardware branding is proving more challenging than it is willing to admit, PT Aspirasi Hidup Indonesia Tbk (AHI) reported a slowdown in sales during its first quarter of conducting business without its former global partner. 

The company, which decided against renewing its licensing agreement with Ace Hardware when it lapsed at the end of 2024 in order to move forward under the brand name Azko, reported a 7.2 per cent sales growth in the quarter ending March 2025, to 2.1 tn Indonesian rupiah (IDR, EUR 112.9 mio). This is a far cry from the 12.6 per cent increase in sales it reported for the whole of 2024, the final year that it carried the Ace branding.  

Same store sales, which expanded 8.8 per cent in 2024, grew 2.2 per cent in the first quarter, while profits fell 32 per cent to IDR 138.3 bn, owing to the early release of workers’ allowance…