JAKARTA. PT Jembo Cable Company Tbk. Plans to revise its sales target this year following the slump in sales in Q1 2020.
Antonius Benady, Director of PT Jembo Cable Company Tbk, revealed that the revised target could not yet be announced because it was still being calculated.
According to Antonius, the postponement in the procurement of cables for PT Perusahaan Listrik Negara (Persero) had an impact on the company's performance. With this, Antonius estimates that the sales in Q1 2020 will be less than Rp 500 billion. He even predicted that there would be no sales growth in 2020.
"So that sales fell significantly, especially sales to PLN," Antonius said as quoted by KONTAN on Friday (13/3).
Jembo's net sales in Q1 2019 reached Rp 783.57 billion, up by 2.65% year on year (YoY). If the estimated sales are only Rp 500 billion, the sales in Q1 2020 will fall by 36.19% (YoY).
Meanwhile, PLN is listed as a customer of JECC with a contribution of around 25%. (AM/AR)