LFLO predicts over 50% growth in sales this year
JAKARTA. The furniture company, PT Imago Mulia Persada Tbk (LFLO), projects its sales to grow 52%. However, several postponed projects might affect the company’s revenue in the process.
Until November, LFLO has reported sales of IDR 61.49 billion. “We project that by the end of the year, it will reach IDR 80 billion,” Erlangga Ksatria, President Director of Imago Mulia Persada, mentioned through the virtual public expose on Thursday (2/12).
However, despite the significant growth in sales, Ksatria believed that the revenue would not jump as high as its sales. It is due to the fact that several projects have faced delays. Meanwhile, based on the existing statement of financial accounting standards (PSAK), the revenue could only be listed once the clients received the traded goods.
By the end of Q3 2021, the company scored IDR 28.9 billion in revenue, climbing 27% year-on-year (yoy) and boosting its net profit by 53% yoy to IDR 1.76 billion. (AM/ZH)