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View all search resultsKopiko producer upbeat on 2012 following first half results
Publicly traded processed food producer PT Mayora Indah (MYOR) is optimistic that it will report solid business growth by year end following a good performance in the first half
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ublicly traded processed food producer PT Mayora Indah (MYOR) is optimistic that it will report solid business growth by year end following a good performance in the first half.
Mayora’s head of corporate communications and external affairs, Sribugo Suratmo, said over the weekend that the company was aiming at a 25 to 30 percent increase in sales by year end.
If the firm achieves that goal, Mayora will likely see its sales rise to somewhere between Rp 11.82 trillion (US$1.25 billion) and Rp 12.29 trillion for 2012, up from Rp 9.45 trillion in sales last year.
The sales increase will be supported by the upcoming Idul Fitri holiday, the nation’s peak season, and by the Christmas and New Year holidays in the second half.
“Mayora is targeting for its sales to increase 20.8 percent by year end compared to last year,” Mayora sales director Tonny Sumantri said.
Tonny said that the food producer would be able to anticipate expected increases in demand for its products during the fasting month and Idul Fitri, when demand would likely increase up to 30 percent, as estimated by the Indonesian Food and Beverage Association (GAPPMI).
The target of business growth may be achievable given the strong showing Mayora evinced in the first half, when it reported 29 percent growth in net sales to Rp 5.44 trillion during the January-to-June period, compared to Rp 4.21 trillion in the same period last year.
About 68 percent of the firm’s total revenue came from sales in the domestic market in the first half, with the remainder sent overseas.
According to Mayora’s financial report, the company saw its export sales rise 61 percent in the first half, reaching Rp 1.76 trillion, compared to Rp 1.09 trillion in the same period last year, when exports accounted for 25 percent of total revenue.
Tonny said that Mayora, which among other things produces Torabika instant coffee, Roma biscuits and Kopiko coffee candy, would continue to focus on overseas sales.
“It is expected that exports will keep growing in the following years,” he said.
According to Sribugo, Mayora directly and indirectly exports its products to about 85 countries worldwide.
“Now, we are starting to enter the markets in Russia and India,” Sribugo said.
He attributed the increase in exports to growing demand from the company’s distribution partners abroad.
“Their targets become our targets, too. There are several countries suffering from the global crisis, however. We see growing demand from some other countries,” Sribugo said.
Mayora minimized increases in its cost of goods sold to 24 percent to Rp 1.12 trillion in the first half, compared to Rp 748.97 billion in the same period last year.
Non-operational income, including gains on foreign exchange, transferred growth in the firm’s revenue to its bottom line.
Mayora’s net profits doubled to Rp 336.23 billion in the first half of the year versus Rp 153.12 billion in the same period last year. Shares in Mayora closed at Rp 21,700 on Friday, climbing 4 percent from Rp 20,850 on the previous day.
The company’s share price has increased by 52 percent year to date.
