After acquiring two textile producers last year (PT Primayudha Mandirijaya and PT Bitratex Industries Pte Ltd) at combined value of US$85 million, SRIL this year will boost its export to 60% from current 56%. The Company expands its export target to Asia (China, Japan, South Korea) as export to Europe and United States weaken inline with the global slowdown.
In H1 this year, SRIL booked sales of US$631.64 million and net profit of US$63.25 million. Its sales grew 16.16% year on year (y/y) while net profit rose 12.28% y/y. Sales to Latin America grew significantly by 221% in said period (US$15.99 million). Sales to Uni Emirat Arab and Africa also jumped 97.65% to US$39.51 million. Sales to Australia and Europe increased 55.38% and 56.97% respectively.
