JAKARTA. PT Sariguna Primatirta Tbk (CLEO) allocates the capital expenditure (CapEx) of IDR 220 billion, IDR 63 billion of which will be utilised for expansion purposes. It intends to establish three new factories in Balikpapan, Palangkaraya, and Palembang.
Melisa Patricia, Vice President Director of CLEO, confirmed that her company had planned to establish three other bottled drinking water processing plants this year. It is intended to increase the market share of CLEO’s products. The construction of those production plants in three cities mentioned above are currently in progress and expected to be completed and launched in 2022.
In addition to the expansion of these factories, CLEO also establishes 88 distribution channels with 383 partners across Indonesia.
With this development plan, CLEO eyes 30% sales growth in 2022. This optimism is backed up by its performance in Q3 2021, which recorded a positive performance of its net profit. It shifted 11.55% year-on-year (yoy) higher to IDR 802.94 billion. Meanwhile, the current year’s profit at the said period amounted to IDR 136.60 billion, increasing 44.8% yoy. (AM/ZH)