Trisula International, The Owner Of The Bellini Brand Experienced A 22 Percent Contraction In Sales During The Pandemic

Top ranks of Trisula International. (Photo: By courtesy)

JAKARTA - PT Trisula International Tbk recorded a decline in sales throughout 2020 of 22.82 percent year-on-year (yoy) to IDR 1.14 trillion with local revenue contributing around 50 percent and export revenue of around 50 percent.

President Director of Trisula International Santoso Widjojo said the impact of the pandemic was the main cause of the depressed company's performance last year.

"Responding to these business challenges, we and our subsidiaries are encouraged to diversify their products", he said in an official statement Monday, April 26.

This tactic eventually resulted in the artist's acquisition of profits. Even though it is certain to be depressed, this business entity with the TRIS ticker code can still generate profit before income tax expense of IDR 11.9 billion.

Santoso added that during the pandemic period, his party innovated products according to market needs, such as personal protective equipment products (medical suits and non-medical masks), medical personnel uniforms, and functional clothing.

"In addition, the company is also developing sales through e-commerce as an effort to overcome the constraints of reducing traffic due to social restrictions", he said.

For information, TRIS plans to carry out a share buyback for which approval will be submitted at the upcoming EGMS on May 27, 2021. This is because the company's current share price does not reflect the actual value or performance, and the potential future stock performance is in line with the improvement in national and international economic conditions.

"This year we will continue to review and improve the efficiency of operational costs as well as flexibility in production capacity so that it can make a positive contribution to profit formation", he explained.

In addition, the synergy between the subsidiaries called Santoso is the key in increasing innovation, flexibility, efficiency so as to produce better performance.

"The company strives to maintain its existing market share and continues to open up opportunities for new markets while hoping for the success of the vaccination program so that the acceleration of economic recovery will be faster", he said.

For information, TRIS has a subsidiary named PT Trisula Textile Industries Tbk (BELL) which is a producer of the legendary Bellini textile brand with a major domestic market share.

Meanwhile, for the export market, the majority is generated from other affiliated companies, namely PT Trisco Tailored Apparel Manufacturing and PT Trimas Sarana Garment Industry.