Sari Roti Manufacturer Owned By Conglomerate Anthony Salim Raised Sales Of Rp2.43 Trillion And Profit Of Rp209.7 Billion In Q3 Of 2021

Sari Bread Factory. (Photo: Doc. Nippon Indosari Corpindo)

JAKARTA - Sari Roti producer, PT Nippon Indosari Corpindo Tbk (ROTI) recorded an increase in performance in the first nine months of this year. The company owned by conglomerate Anthony Salim was able to reap profit growth in the third quarter of 2021.

In Sari Roti's financial report, quoted on Wednesday 27 October, ROTI achieved a net profit attributable to owners of the parent entity of Rp209.7 billion. This profit grew by 65 percent compared to the same period last year.

Meanwhile, ROTI sales in that period fell slightly by 0.41 percent to Rp2.43 trillion. Director of ROTI, Ida Simatupang, said that the revenue was supported by the increase in sales contribution from traditional channels and sales from modern channels, which continued to improve.

Although the increase in raw material prices this year has suppressed the gross profit margin in the January-September 2021 period to 54.3 percent, the EBITDA margin and net profit margin continued to improve to 18.1 percent and 8.6 percent with better cost management. measurable.

"Armed with accurate sales strategies and various initiatives to increase productivity, we have not only succeeded in maintaining sales but also succeeded in significantly increasing profitability even in the midst of a pandemic," said Ida in a written statement.

Furthermore, on the company's balance sheet, the cash and cash equivalent position as of September 30, 2021, amounted to Rp860.9 billion, which was mainly driven by the accumulation of cash from operating activities during the first 9 months of 2021, which reached Rp506.2 billion.

Ida continued, if you take into account the company's total loan, which is only Rp496.6 billion, the net cash to equity ratio is 12.3 percent.

"This very strong balance sheet condition will be very useful to support ROTI's business strategy in the future," added Ida.

For information, Sari Roti products have been able to reach 34 provinces through more than 70,000 outlets throughout Indonesia. The company operates 14 factories spread across strategic locations with a total production capacity of 5 million pieces of bread per day.