JAKARTA - PT Buyung Poetra Sembada Tbk (HOKI) posted net profit growth of 7.59% year on year (yoy) to Rp 70.76 billion as of the end of the third quarter of 2019. Meanwhile, the Topi Koki rice producer’s revenue hiked 16.04% yoy to Rp 1.23 trillion.
According to HOKI Investor Relations Dion Surijata, the company’s growth is in line with its target of 10%-15% per year. With the upcoming Christmas and New Year holidays, HOKI is optimistic the target can be achieved.
“To achieve our target, we have several strategies including increasing production capacity, maintaining product quality, and improving efficiency, as can be seen from our efforts to gain more revenue from the use of rice husk waste,” said Mr Surijata in an official statement received by IDNFinancials.com, Monday (28/10).
Currently, HOKI’s rice husk-fueled power plant in South Sumatra is entering the testing phase. The company expects the power plant to start producing 3 MW of electricity by at least next year.
“We hope our efforts to use rice husk waste as power plant fuel can provide an alternative solution to resolve the rice husk waste issue,” Mr Surijata concluded. (MS)