Graha Prima Mentari Aims For 50 Percent Increase In Profit In 2024

Rupiah (Photo: Antara)

JAKARTA - PT Graha Prima Mentari Tbk (GRPM) targets revenue and net profit to increase by 50 percent year on year (yoy) in the 2024 financial year.

GRM President Director Agus Susanto explained, the company targets revenues of IDR 556.5 billion and net profit of IDR 5.4 billion by 2024.

"At least our revenue can be at almost Rp560 billion. Meanwhile, we hope that the minimum net profit margin is at almost Rp5.5 billion," Agus quoted Antara as saying.

Agus said the company had allocated capital expenditure (capex) worth IDR 10 billion in the first semester of 2024, from the capex plan of IDR 20 billion this year.

"Capex is a bit difficult for us to calculate, yes, but at this time we have spent almost Rp. 10 billion until only the second half. So, if there is an additional principal, of course the capex will increase," said Agus.

He said, the company has facilities for financing distributors from several banks that stand by. "So no worries, this year we have budgeted for a capex of approximately Rp. 20 billion," said Agus.

With the addition of new areas and principals, Agus explained that the company explained the list of areas currently operating, including 16 GRM operational areas and 13 TUJ operational areas.

The addition of this area was also followed by an increase in the number of retail outlets with a total number of 53,619 ROs and an increase in the number of products with a total of 9 Principals.

Independent Commissioner of the GRM Theo Lekatompessy said that the company's main focus was in the fourth quarter of 2024 and the first quarter of 2025, including internal consolidation to create efficiency, along with waiting for trade and tax policies, as well as economic stimulus to be implemented by the new government.

In 2023, the company posted revenues of IDR 370.7 billion, with a net profit of IDR 3.6 billion.

Meanwhile, until the first semester of 2024, the company has posted revenues of IDR 370.68 billion, or an increase of 106 percent (year on year/yoy) compared to IDR 179.10 billion in the same period the previous year.

Meanwhile, the current year's net profit increased to IDR 3.61 billion in the first semester of 2024, from the previous IDR 2.19 billion in the first semester of 2023.