HomeNewsVideos

Ultra Jaya still become the market leader for milk product

06 May 2019 05:46

JAKARTA. PT Ultra Jaya Milk Industry & Trading Company Tbk (ULTJ) recorded revenue growth of 9.2% on a year on year (YoY) basis to Rp 1.42 trillion in the first quarter of 2019. This increase was mainly caused by high demand.

"Indeed, the Ultra High Temperature (UHT) milk market has begun to rise since the beginning of the year," said Muhammad Muthassawar,  General Manager Public Relations at ULTJ, as quoted by Kontan.co.id on Sunday (5/5).

Based on the company's 2019 quarterly financial report, local sales dominate almost 99% of ULTJ revenue, where gross sales of the beverage segment was recorded at Rp 1.53 trillion (before Value Added Tax) 10% higher than the record from the same period last year (Rp 1, 38 trillion).

Azwar said, the boost in demand growth at the local level was also caused by the addition of the company's product portfolio at the end of last year. "This year, the distribution of new variants of Ultra Milk and Teh Kotak began to increase since it was launched last year," he said.

ULTJ claims, in the UHT milk segment, the company's product is able to become the market leader with a 42% market share. While for the Ready To Drink (RTD) tea category with carton packaging, the company's product is also the market leader with a 71% market share in the domestic market.

For this reason, ULTJ is still optimistic about the growth target of 10-15% for revenue and profit this year. Azwar said that the target has not changed, which means that with revenue in 2018 worth Rp 5.4 trillion, this year ULTJ's net revenue is projected to reach Rp 5.94 trillion to Rp 6.21 trillion. (AM/AR)

© 2024 - IDN Financials - All Rights Reserved.