TRIS - PT. Trisula International Tbk

Rp 206

+2 (+1,00%)

JAKARTA - After recording a net profit growth of 5.7% year-on-year (yoy) until the end of December 2023, PT Trisula International Tbk (TRIS) is confident in posting an aggressive increase of up to 30% yoy this year.

Based on TRIS management's presentation at the Annual Public Expose today (29/4), TRIS's net profit managed to increase 5.7% yoy to IDR 68.2 billion in 2023, even though its revenue slipped 1.7% yoy, from IDR 1.5 trillion to IDR 1.47 trillion in 2023.

"TRIS recorded stable growth with a slight decline in export sales due to global economic turmoil," said management. TRIS' largest export market contribution, the United States, did decline from 38.88% to 34.29%.

By business segment, although the manufacturing segment still dominated total sales by 62% last year, the retail segment showed rapid growth, from 7% to 9%, similar to the uniform segment.

Not only that, the retail segment's contribution to TRIS' net profit before elimination shot up considerably, from 21% to 64%. In line with this, TRIS will further boost its retail sales in 2024, especially offline, following the post-pandemic trend of users increasingly shopping in stores.

"We have plans to add POS, or point-of-sales, to strengthen our presence in the market," continued Kartono Budiman, Marketing Director of TRIS. The brands that the company will focus on are JOBB and Jack Nicklaus, which target the upper middle class.

"We are optimistic that we can achieve this [POS] growth to achieve what we are targeting," continued Budiman. For information, TRIS is targeting a 10% yoy increase in revenue and 30% yoy increase in net profit for 2024. (ZH/LM)