JAKARTA - Snack producers, PT Siantar Top Tbk. posted an increase in net profit of 17.95% on an annual basis to Rp 255.20 billion in 2018.
Siantar Top Director Armin said last year's increase in net profit was driven by increased export sales. In addition, the issuer with the STTP stock code also noted that there was an increase in the average selling price of the product over the past year.
Based on the 2018 audited financial report, STTP posted sales of Rp 2.83 trillion in 2018, the same as the previous year. Flat sales supported by export sales rose 20.75% on an annual basis to Rp 271.73 billion.
Meanwhile, local sales, which contributed 91.46% to net sales, fell by 2.07%. Meanwhile, the current year's profit attributable to the owners of the parent entity was amounted to Rp 255.20 billion in 2018, up 17.95% compared to net income in 2017 of Rp 216.37 billion.
Furthermore, during this year's Ramadan and Lebaran momentum, the company estimates that sales increase can reach 10%-20% compared to other months. The increase in sales occurred in biscuits and crackers.
In 2019, the company targets sales to grow 10-15 percent. If referring to the realization of 2018, STTP is targeting sales of around Rp 3.11 trillion - Rp 3.25 trillion. (AM/LM)