CLEO sales increase 24% yoy in first half

29 July 2022 17:57

JAKARTA - PT Sariguna Primatirta Tbk (CLEO), managed to book a sales hike of 24% YoY, to IDR655.06 billion in 1st Semester 2022. With these sales results, CLEO posted a net profit of IDR102.88 billion, up 12% from IDR91.76 billion in the same period the previous year.

Meanwhile, the Company's cost of goods sold increased 31% to IDR392.41 billion, compared to IDR300.27 billion in the same period the previous year. The increase in expenses, which was higher than the increase in sales and also higher than the increase in net profit, was a consequence of the price hike in packaging materials and a change in the composition of sales. In terms of sales composition, there was an increase in sales in the category of products that contain higher material costs, namely products with small packages.

To deal with the increase in the price of packaging materials, the Company has increased the use of packaging made from recycled material or known as r-PET for several products.

Meanwhile, related to business expansion activities, the Company is currently building three new factories in Balikpapan, Palangkaraya, and Palembang. The construction of the three new factories will increase Company's factories of bottled drinking water (AMDK) from 27 currently to 30 factories. The factories spread across Java, Sumatra, Kalimantan, Sulawesi, Bali, East Nusa Tenggara, West Nusa Tenggara and Papua. (LM)

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