Snack Producer, Siantar Top, Owned By Conglomerate Shindo Sumidomo, Raises Sales Of IDR 3.04 Trillion In The Third Quarter Of 2021

Illustrated. (Irfan Meidianto / VOI)

JAKARTA - PT Siantar Top Tbk (STTP) managed to record an increase in performance in the third quarter of 2021. Sales and profits of the snack food producer owned by conglomerate Shindo Sumidomo grew significantly in the first nine months of this year.

In Siantar Top's financial report published on the Indonesia Stock Exchange (IDX) website, quoted on Wednesday, November 17, net sales of STTP recorded a growth of 8.05 percent to IDR 3.04 trillion in the third quarter of 2021. Previously, Siantar Top's net sales only reached IDR 2.81 trillion as of September 30, 2020.

STTP's net sales by product were still supported by food processing which reached IDR 2.83 trillion. This figure is up 10.41 percent from the previous realization of IDR 2.56 trillion in the third quarter of 2020.

Then there were also sales from other supporters worth IDR 210.80 billion, which was recorded to decrease by 16.01 percent from the same period last year.

The growth in net sales contributed to an increase in the company's cost of goods sold. In the third quarter of this year, STTP's cost of goods sold increased by 13.37 percent, from IDR 2.02 trillion to IDR 2.30 trillion.

On the other hand, Siantar Top also still recorded an increase in sales expenses by 45.55 percent to IDR 199.33 billion. Whereas in the same period last year the selling expense of STTP was only IDR 136.94 billion.

However, general and administrative expenses managed to drop slightly by 4.97 percent from the previous IDR 100.71 billion to IDR 95.70 billion. Thus, STTP must also record a decrease in profit for the year attributable to owners of the parent entity or net profit of 9.61 percent, to IDR 433.31 billion at the end of last September.