Sritex is targeting to record single digit growth in 2020
JAKARTA. PT Sri Rejeki Isman Tbk is targeting to record single-digit revenue and profit growth in 2020.
Joy Citra Dewi, Corporate Communications of Sri Rejeki Isman, said that the bottom line and top line growth target for this year is around 6% -8%.
The company set a conservative target, since SRIL is still anticipating global economic uncertainty. "Margin is maintained with a lot of focus on products with high added value," he said as quoted by Bisnis on Thursday (16/1).
During the period of January-September 2019, SRIL recorded US$ 895.08 million in sales, 17.6% higher than its record in the same period last year. The company's positive performance was driven by sales to the United States, which increased significantly.
The company continues to expand its export markets by increasing sales to Africa, Japan and the United States. Moreover, the US-China trade war provides an opportunity for Indonesia to sell more textile products to the US.
The increase in demand from the US has been seen since earlier this year. The US is the company's market for yarn and apparel products. The company supplies goods to a number of well-known brands, such as Disney and Costco. (AM/AR)