HomeNewsVideos

HM Sampoerna to rely on premium products amid price increases in 2020

07 November 2019 17:00

JAKARTA. PT Hanjaya Mandala Sampoerna Tbk (HMSP) will rely on sales of premium cigarettes during the transition phase of cigarette price increases in the first quarter of 2020.

Mandiri Sekuritas analyst Adrian Joezer confirmed the plan after a meeting with the HMSP management. "They see an increase in opportunity for cigarettes with high equity brands," said Mr Joezer in an official statement, Thursday (7/11).

In addition, HMSP assesses that cigarette price increases in Q1-2020 is reasonable given the lack of significant price increases throughout 2019.

However, HMSP declined to reveal their projection of total cigarette sales in 2020. Nevertheless, said Mr Joezer, the company will boost sales volume through low-priced cigarettes as a response to declining purchasing power. (KR/MS)

© 2024 - IDN Financials - All Rights Reserved.