JAKARTA - PT Gajah Tunggal Tbk, a tire manufacturer, projected sales growth of 5 to 8% in 2020, following the projected increase in market demand and product optimisation.
The statement was coined by Corporate Communication & Investor Relations Director at Gajah Tunggal, Catharina Widjaja, as quoted from Bisnis on Thursday (16/1).
Regarding the company's 2019 performance, she explained, the company also managed to record a stable sales, despite the 11% decline in the automotive market. During January until September 2019, Gajah Tunggal recorded a net profit of Rp 139.53 billion, much better than the record from the same period in 2018, a loss of Rp 28.79 billion.
She said the products of Gajah Tunggal in 2019 were absorbed mostly by demand in the domestic market, about 55 - 60%.
Catharina said that she had not been able to mention the total sales figures last year because she was still waiting for the audit process. Nevertheless, up to September 2019, Gajah Tunggal's sales were recorded to increase by 3.8% on an annual basis. (ARM/AR)