Sari Roti Producer Profit Develops Up To 50.1 Percent In The First Quarter Of 2024

Rupiah (Photo: Antara)

JAKARTA PT Nippon Indosari Corpindo Tbk (S stock code: ROTI) the first and largest mass bread producer in Indonesia with the brand Sari Roti and Sari Kue managed to record a profit attributable to the Owner of the Main Entity of IDR 79.8 billion in the first quarter of 2024. This achievement expanded by 50.1 percent compared to the same period last year.

The brilliant performance of the first quarter of 2024 is the result of efforts to increase overall operational productivity and efficiency strategies as reflected in the Dirty Profit Marjin and the Improved EBITDA Marjin in the range of 54.4 percent and 16.2 percent. Even the Company is still able to record Net Sales of IDR 951.3 billion equivalent to growth of 1.1 percent YoY even though more fasting days fall in the first quarter of 2024 compared to the first quarter of 2023.

"We remain optimistic that with the potential growth in demand for bread and cakes in the future, especially after the Eid holiday yesterday, the community has again increased its activities so that it is hoped that it will be able to encourage sales in the second quarter of 2024 and in the future," said the Director of the Company, Mrs. Arlina Sofia in a written statement, Sunday, April 28.

As is known, seasonal trends (seasionality) for bread products tend to decline during the month of Ramadan and only increase again after Eid al-Fitr, which this year coincided in the second week of April.

This achievement cannot be separated from the contribution from the Western and East Regions which won IDR 445.5 billion Net Sales or grew 8.0 percent YoY.

The implementation of a business development strategy carried out by the Company through additional factory capacity and expansion of distribution, especially outside Java, has succeeded in increasing the contribution of Sales from the West and East Regions which have covered 46.8 percent. Meanwhile, the Central Region which relies on the island of Java is still the largest contributor with Net Sales in the first quarter of 2024 amounting to IDR 505.8 billion.