Mustika Ratu Turns A Profit Of IDR 358 Million In 2021 From A Loss Of IDR 6.76 Billion In 2020

Kusuma Ida Anjani. (Photo: Savic Rabos, DI: Raga/VOI)

JAKARTA - Manufacturer of cosmetics and beauty products, PT Mustika Ratu Tbk (MRAT) posted net sales in 2021 of IDR 326.8 billion, up 2.6 percent compared to the previous year which was IDR 318.4 billion. The company's positive performance was mainly supported by the personal care segment.

Meanwhile, Mustika Ratu's profit attributable to owners of the parent entity in 2021 is IDR 358 million, an improvement compared to 2020 which recorded a loss of IDR 6.76 billion.

In the midst of various dynamics and challenges in handling the COVID-19 pandemic and the unstable Indonesian economy in 2021, MRAT tries to agilely adjust the company's priorities by taking advantage of opportunities in the second year of the pandemic.

As a result, this issuer which is engaged in manufacturing, trading and distributing herbal and traditional cosmetics was able to reap an increase in operating profit of 23.6 percent to Rp. 15.7 billion in 2021 compared to 2020 which was Rp. 12.7 billion.

During 2021, the personal care segment contributed up to 73.2 percent of MRAT's revenue. This achievement was followed by the herbal medicine segment, as well as health and cosmetic products whose contribution reached 26.8 percent.

Finance Director of Mustika Ratu Jodi Andrea Suryokusumo in a written statement, Wednesday 11 May explained, Mustika Ratu will continue to focus on developing the market in the health, beauty, and wellness sector through multiple channel distributions, including medical channels and e-commerce.

According to Jodi, to maintain sales growth in 2022, the company has rejuvenated various products with high demand, including the Brightening Bengkuang Series, a series of skincare products made from natural and halal ingredients.

"Supported by positive macroeconomic incentives, community mobility and a better and healthier lifestyle, the management of Mustika Ratu is optimistic that the combination of stimulants and the company's strategy will be able to increase sales in 2022," said Jodi.