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KINO to enter the pet food business

22 April 2021 06:28

JAKARTA – PT Kino Indonesia Tbk (KINO) finally entered the pet food business this year following its liquidation over a joint company from the same business sector. It was announced by Budi Muldjono, the Director of KINO, through the information disclosure quoted on Thursday (22/4).

Muldjono stated that KINO saw the massive market potential in the pet food business. “This business segment expansion would allow the company to grow further and make innovations within that field. Furthermore, this business could optimise the company’s performance and profitability,” he added.

According to Muldjono, the earnings and net profit were estimated to climb up to IDR 608.19 billion and IDR 359.10 billion after the pet food business development. Without the new business sector, the earnings and net profit were projected to reach only IDR 607.87 billion and IDR 358.93 billion.

This plan would be mulled over during the Extraordinary General Shareholders Meeting to be held on May 28, 2021. (LK/ZH)

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