JAKARTA – PT Gunung Raja Paksi Tbk (GGRP), a steel manufacturer, projects its revenue to reach USD 700 million and a net profit of USD 54 million by the end of this year. The company also predicts revenue growth of 50%-70% in the next year.
“We’re highly optimistic about attaining these goals with the slowly recovering conditions of the domestic market,” AGW Sangkaeng, President Director of Gunung Raja Paksi, claimed through a public expose quoted Tuesday (14/12).
Until the third quarter of 2021, the company has collected revenue of USD 71.01 million and a net profit of USD 40.20 million. These gains proliferated from the numbers reported in the same period last year, in which revenue only reached USD 15.33 million, and GGRP suffered a loss of USD 14.95 million.
According to Sangkaeng, the achievements are made possible due to three supporting factors. They include the implementation of a pricing strategy for raw materials purchase and finished goods price so that they generate a good margin. Moreover, there are also the global steel price increase and improvements in human resources management. (LK/ZH)