Sierad Produce aims for Rp 4.5t in Sales
The Jakarta Post | Sat, 18/06/2011 8:00 AM
JAKARTA: PT Sierad Produce Tbk., a publicly listed agribusiness company, is targeting to increase its sales by 25 percent this year to Rp 4.5 trillion (US$524 million) from Rp 3.6 trillion in 2010, says an executive.
The company’s vice president director, Eko Sandjojo, said in Jakarta on Thursday that the company expected to increase net profit to Rp 80 billion this year from Rp 61 billion a year before.
Speaking to reporters following the company’s annual general shareholders meeting, Eko said that to help achieve this year’s target, the company would spend about Rp 800 billion this year to finance its business expansion.
Eko said that he was very optimistic the company could achieve those targets due to the potential of the food industry’s market.
In the first quarter of this year, the company posted Rp 15 billion in net profit, nearly doubling from Rp 8 billion in the same period of 2010. During the same period, the company’s total revenues rose 32 percent to about Rp 1 trillion from Rp 758 billion, Antara news agency reported.
Eko said that during the meeting, shareholders approved the proposal to pay 15.4 percent of last year’s profits as dividends, or Rp 1 per share.(drs) — JP