Tigaraksa eyes 20% growth

JAKARTA (JP): Publicly listed consumer and household goods distributor PT Tigaraksa Satria said on Monday it was upbeat of achieving its profit growth target of 20 percent this year following a strong performance in the first quarter.

Last year, the company recorded Rp 15.9 billion in net profit.

Tigaraksa's net profit rose 31 percent to Rp 8.6 billion between January and March this year from about Rp 6.5 billion during the same period last year.

Sales surged 36 percent to Rp 319.6 billion in the first quarter of this year, up from Rp 235 billion during the same period of last year.

Company finance director Fauzy said Tigaraksa hoped to raise sales by 20 percent this year from Rp 1.08 trillion last year.

"We're quite optimistic of meeting the target," he told reporters during a public presentation, citing the growing demand for the products it distributed.

The company distributes many consumer products such as milk products from Wyeth Ayerst, Sari Husada, Nutricia and Produgen; instant food products from Knorr, Skippy and Bestfood; and floor and bathroom cleaners produced by 3M.

Aside from distribution, the company has also several of its own product lines, including garments, gas stove and educational materials. (05)