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Apparel maker Trisula posts 37% jump in sales on strong exports
Trisula International’s performance contrasts with a drop in orders for Indonesia's textile industry overall.
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A worker produces clothes in a garment factory in Bergas, Semarang regency, Central Java, in May 2018. (Antara/Aditya Pradana Putra)
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font face="Times New Roman, serif">Apparel producer PT Trisula International posted a 36.38 percent jump in net sales to Rp 1.49 trillion last year, in stark contrast to an industry that is generally struggling with weaker global demand.
The gain was mainly owed to exports, which rose by 52.78 percent to Rp 1 trillion in 2022, accounting for two thirds of the firm's sales last year.
Trisula said it benefited from a recovery in foreign demand for its products since the beginning of last year, as well as from a post-pandemic normalization of logistics and supply chains.
The company, which has been listed on the Indonesia Stock Exchange (IDX) since 2012 under the ticker symbol TRIS, produces garments for international brands as well as uniforms for companies in the aviation, healthcare and accommodation industries.
In January, the firm revealed that most of its orders came from the United States, Australia, New Zealand, Singapore and Japan.
Manufacturing is the company’s bread and butter, accounting for roughly two thirds of net sales, followed by the segments of distribution, uniforms and retail.
Trisula also posted a 3.5-fold jump in net profit from Rp 18.03 billion in 2021 to Rp 64.52 billion last year, around Rp 34.16 billion of which was attributable to shareholders, which marks a 7.3-fold rise from the previous year.
