JAKARTA. The COVID-19 cases surge this year had taken a toll on PT Darmi Bersaudara Tbk’s (KAYU) performance as it was forced to postpone exports to India, its primary sales contributor. Therefore, the sales in H1 2021 collapse by over 85%.
Through a public expose yesterday (16/9), Nanang Sumartono, President Director of Darmi Bersaudara, claimed that the pandemic had made the company unwillingly delay the export market expansion. In fact, by the beginning of this year, the export market had just started to expand to China, South Korea, and Australia.
By the end of June 2021, KAYU’s net sales are reported to plunge by 85.07% to IDR 4.37 billion, whereas in the same period last year, it managed to score IDR 29.30 billion. Fortunately, it finally achieves IDR 378.49 million in profit after suffering from a net loss of IDR 628.80 million in H1 2020. This year, KAYU’s projected sales are set to IDR 19.72 billion while aiming for a net profit of IDR 1.23 billion.
All these years, KAYU has distributed its products to India, which, in return, has contributed 90% to its total sales. Nevertheless, Sumartono promises that by the time the crisis is alleviated, the export market expansion plan will be immediately enforced. (AM/ZH)