WOOD - PT. Integra Indocabinet Tbk

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JAKARTA – PT Integra Indocabinet Tbk (WOOD), a timber manufacturer, is optimistic that it may attain 25% year-on-year (yoy) sales growth by the end of this year despite the Feds’ decision to raise reference rates and thus affecting the purchasing power of the consumers in the housing market.

Wang Sutrisno, Director of WOOD, claimed that the company strongly believes that it will be able to achieve said goal as its order book for furniture has been fully secured until next October. “The jump in the sales number in H1 2022 was quite significant despite the instability due to the inflation in the US,” he explained in the public expose treatise quoted Monday (18/7).

According to Sutrisno, the elevated benchmark rates by The Fed has indeed affected the demands in the US housing market. However, it does not harm the company further as its order book has been met, and Indonesia only supplied 5% of US’ imported timbers.

“We notice that the demand for our furniture in the US market is still well-sustained,” Sutrisno added.

In Q1 2022, WOOD recorded sales of IDR 1.97 trillion, moving up from the 2021 gains of IDR 912.05 billion. The current year’s profit also shifted from IDR 101.84 billion to IDR 206.77 billion. For comparison, the sales in December 2021 clocked up to IDR 5.41 trillion, growing from IDR 2.92 trillion in December 2020. Then, it was squeezed out to generate profit of IDR 535.29 billion, which was higher than IDR 314.36 billion. (LK/ZH)