JAKARTA. Business diversification to masks and personal protective equipment (PPE) has led to a dramatic increase in domestic sales for PT Pan Brothers Tex (PBRX) by 131.98%.
According to the company's financial statements, Pan Brothers recorded sales of US$ 326.20 million,14.54% higher than its record in 1H 2019 to US$ 284.79 million. Export sales were still the largest contributor to the company's sales, with a record of US$ 285.81 million, growing by 6.89% YoY with the Asian market contributing US$ 199.70 million, followed by the United States US$ 71.79 million.
Domestic sales contributed US$ 41.06 million in the first half of 2020, 131.98% higher than its record in the first half of 2019.
Deputy Director of Pan Brothers Anne Patricia Sutanto explained that sports and performance products boosted domestic sales growth. In addition, the growth was driven by sales of personal protective equipment (PPE) and reusable masks..
PBRX booked a net profit of US$ 12.07 million in the first half of 2020, 42.55% higher than its record in the first half of last year of US$ 8.47 million. (AM/AR)