Sierad Produce estimates that its revenue will decline due to COVID-19
JAKARTA - PT Sierad Produce Tbk (SIPD), a poultry feed producer, expects its revenue to decline due to the impact of COVID-19 on the purchasing power of its customers caused by the impact of the COVID-19 pandemic. However, the company could not confirm how big the impact is.
As quoted from the company's disclosure published on Tuesday (2/6), Sri Sumiyarsi, Corporate Secretary of PT Sieran Produce Tbk (SIPD) said that the company felt the indirect impact of the COVID-19 pandemic. "Some of the things that affect the company's performance include the decline in people's purchasing power due to reduced employment, which reduced our revenue and margin began in April," he said.
Responding to these conditions, the company prepared a number of strategic steps to maintain business continuity. (LK/AR)