TRIS - PT. Trisula International Tbk

Rp 178

-2 (-1,11%)

JAKARTA - PT Trisula International Tbk (TRIS) reported net profit growth of up to 6% year-on-year (yoy) amidst the slippage of revenue by 1.7% yoy at the end of 2023, driven by solid performances of its subsidiaries.

In line with the slowing-down of textile industry and global economy in general throughout 2023, TRIS’s sales were seen weakening annually, from IDR 1.5 trillion to IDR 1.47 trillion at the end of 2023.

“A majority of the sales was generated by two key entities engaged in manufacturing, namely PT Trisco Tailored Apparel Manufacturing and PT Trisula Textile Industries Tbk (BELL),” said the management of TRIS in the press release quoted today (3/4).

Thankfully, efficiency in several expenses, as well as increases in finance, commission, and lease income, managed to support net profit performance, allowing TRIS to score net profit of IDR 68.2 billion as of December 2023, up 6% yoy.

TRIS’s export sales were recorded shrinking 13% yoy, from IDR 1 trillion to IDR 879 billion, or equal to 60% of total sales. Meanwhile, domestic sales increased 20% yoy from IDR 496.2 billion to IDR 593.9 billion.

“Throughout 2023, 60% of TRIS’s products are exported, with key markets such as the USA, Australia, and New Zealand as the biggest destination of their export sales,” claimed the management of TRIS further.

According to the information disclosure, 60% of TRIS’s sales came from manufacture segment, which utilises high-quality fabric and garment.

“Moving forward, we're optimistic about growth, buoyed by the expansion of our production facilities and our unwavering dedication to delivering innovative, top-tier products tailored to niche segments customer," President Director of TRIS, Widjaya Djohan, stated. (ZH)