JAKARTA - PT Mark Dynamics Indonesia Tbk (MARK) a gloves manufacturing company, recorded a profit of Rp 58.83 billion in the third quarter of 2018, 82.88% higher than the profit gained in the same period of 2017 of Rp 32.17 billion. The increase was due to the increase of sales, largely from the export market.
Ridwan, President Director of PT Mark Dynamics Indonesia Tbk (MARK) stated that the profit achievement in the third quarter of 2018 surpassed its financial performance in December 2017 of Rp 49.25 billion. "The performance was supported by the increasing sales revenue in 2018 period at Rp 240.45 billion from Rp 177.79 billion recorded in the third quarter of 2017," he said as cited from the press release.
According to him, the sales achievement in the third quarter of 2018 also surpassed the performance in December 2017 of Rp 239.79 billion. Beside the increasing sales, Mark also reduced the production cost, as shown by the gross profit which reached the level of Rp 104.85 billion, growing from Rp 63.88 billion. The profit before tax was recorded at Rp 80.83 billion with a profit margin of 33.62%.
He stated the demand for gloves in the global market will increase. However, Malaysia is the largest supplier and producer with 61% market share for gloves in the global market. Indonesia only has 3% of the market share in the global market. The largest market for gloves is the United States (15%) and followed by the European Union. (LK/AR)