HOKI continues search for growth strategy amid pandemic

01 September 2021 13:59

JAKARTA - PT Buyung Poetra Sembada Tbk (HOKI), an issuer of quality rice producers under the “Topi Koki” and “HOKI” brands, continues search for the best growth strategy in the midst of pandemic. One of its efforts is to increase new distribution channels as well as creating alternative distributions, including preparing several new product launches to strengthen HOKI’s position in the rice business which will be launched this year.

Budiman Susilo as Director of HOKI, said, “Even though HOKI’s net sales for the First Semester of 2021 were corrected to IDR429.75 billion with a net income of IDR7.50 billion, HOKI’s online sales still managed to increase around 10% YoY during the First Semester of 2021 compared to the previous year. Up until the First Semester of 2021, HOKI was still going through a challenging period, given the prolonged pandemic situation where the sales from all channels were heavily affected, especially General Trade, as well as due to the massive closure of several Modern Trade channels.”

Following the trend in the past few quarters, Modern Trade was still the biggest contributor to HOKI in the First Semester of 2021, with a 52.63% sales volume contribution. On the other hand, General Trade only contributed 15.45% in the First Semester of 2021, due to operational limitations since the pandemic. To boost its sales, HOKI has been pushing online channels in the First Semester of 2021, considering that people are getting used to online shopping to get consumer staples such as rice. As a strategy, HOKI has also begun switching to several new distribution channels to distribute rice and new products in order to boost the sales in line with the increase in production capacity.

Currently HOKI is still committed to continuing its expansion plan, such as completing the construction of the new factory in South Sumatera which will be completed this year. HOKI is also in the process to broaden the distribution channels to increase offline and online sales in the future. The new product lines through PT Hoki Distribusi Niaga is also in the process and is expected to be launched soon, so that it can add HOKI’s product portfolio and capture better margins. (LM)

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