Sierad Posts 250% Profit Rise
(Jakarta, Bisnis Indonesia) PT Sierad Produce Tbk posted a 250% rise in its net profit to Rp 33 billion, thanks to robust sales and better selling price.
The net profit has surpassed last year’s achievement of Rp 21 billion. The Company booked a mere Rp13 billion as of the first semester of 2007.
Sierad Corporate Secretary Elies Lestari Setiawan said the net profit jump was credited to a 25% increase in the sales of Feedmill division.
Sierad managed to book a net sales of Rp1.1 trillion during the first semester of this year, up by 60% from Rp 683 billion in the same period last year. The sales of Feedmill’s contributed 57% of the Company’s total revenue.
“With such a performance the Company is optimistic to reach a total of Rp 2 trillion in sales revenue and Rp 46 billion in net profit this year,” said Elies in a press release yesterday.