HRTA Sets A Net Profit Target Reaching IDR 410 Billion By The End Of 2024

Illustration (Photo: Doc Antara)

JAKARTA - Gold jewelry issuer, PT Hartadinata Abadi Tbk (HRTA) targets a net profit of IDR 410 billion by the end of 2024.

This target is in line with the net profit in the first semester of 2024 which has been achieved by more than Rp205.63 billion.

HRTA Finance Director Ong Deny said his company also targets revenues to reach IDR 18 trillion for this year.

"The company's top line target this year is IDR 18 trillion, with a bottom line of IDR 410 billion," he said in a virtual Public Expose Live press conference, Friday, August 30.

In line with this target, HRTA President Director Sandra Sunanto said HRTA will continue to expand its marketing network by increasing the number of outlets.

HRTA continues to consistently extend its marketing network with the expansion of its own outlets reaching a total of 85 stores by 2023. In 2024, the company targets the growth in the number of store outlets to 100 stores, "said Sandra.

In addition to expanding domestic networks, HRTA will also expand its export network.

This time, the company is targeting the jewelry market in Europe and the United States, after India and the United Arab Emirates (UAE).

Director of Investor Relations Hartadinata Abadi Thendra Crisnanda said, in terms of the global market, the company targets to strengthen its foothold outside the Indian and UAE markets that have become export partners, while aiming for other countries.

"The company aims to expand export networks to several strategic countries, including Asia, Europe and the United States," he said.

Thendra explained that the selection of these countries was based on an in-depth analysis of market potentials and increasing consumer demand for quality gold products.

"This expansion is an integral part of the company's strategy to strengthen HRTA's existence in the global market and optimize export portfolios as one of the pillars of the company's growth," he said.

As previously reported, PT Hartadinata Abadi Tbk (HRTA) posted brilliant financial performance in the first semester of 2024.

Revenue was recorded at IDR 8.24 trillion or grew 33.46 percent on an annual basis or year on year (yoy) when compared to the previous year which amounted to IDR 6.18 trillion.

Revenue growth was supported by an increase in sales in pure gold by 19.22 percent yoy to 7.42 tons in the first semester of 2024 from 6.23 tons in the first semester of 2023.