Tifico Fiber revenue grew 40% in 9M 2021
JAKARTA. PT Tifico Fiber Indonesia Tbk (TFCO), the polyester manufacturer operating for over 40 years, reported revenue of USD 152.18 million throughout January-September (9M) 2021.
The revenue in this period was 40% higher than TFCO’s revenue by the end of September 2020, which only reached USD 108.48 million.
Specifically, 63.7% of the total TFCO’s sales and revenue, equal to USD 96.84 million, came from staple fibre sales. Then, filament yarn sales contributed 21% or USD 31.98 million, chip products sales 14.5% or USD 21.99 million, while others were accumulated from RCL products sales.
The revenue growth then sustained TFCO’s net profit increase, turning the tables around and reaching USD 9.2 million by 9M 2021. In the same period last year, the company had suffered a loss of USD 1.02 million.
Based on idnfinancials.com data, as of September 2021, PT Prospect Motor was reported to still own 33.08% of TFCO’s shares. PT Hermawan Sentral Investama claimed another 17.38%, PT Wiratama Karya Sejati 16.79%, and public investors 10.10%. The small remaining portion went to some directors and commissioners of Tifico Fiber. (KR/ZH)