BELL net profit soars in third quarter
JAKARTA - PT Trisula Textile Industries Tbk (“BELL”), a publicly listed company that produces good quality fabric, uniform, and fashion products, managed to record a net profit attributed to its main entity of IDR2.8 billion in the Third Quarter of 2021, an increase of 277.2% YoY compared to the the same period last year of a recorded net loss of IDR1.6 billion. This increase was driven by BELL's recovering performances, one of which was BELL’s improved retail performance, both online and offline.
R Nurwulan Kusumawati as BELL’s Corporate Secretary said, “The increase in the Third Quarter of 2021 was also supported by a decrease in finance costs for managing accounts payable and accounts receivable, inventory, and other costs that were quite effective, causing moderate improvements to BELL’s cash flow operations. In addition, BELL has also experienced an increase in demand from loyal customers where BELL is able to maintain the trust in the products provided to the customers.”
In terms of sales, the Company is still dominated by the domestic market at around 95% however, the Company’s export performance in this year’s period has risen 47% compared to last year's achievement. Meanwhile, in the retail segment, there was also an increase in demand for JOBB and Jack Nicklaus products. (LM)