Bread maker PT Nippon Indosari Corpindo Tbk (ROTI) plans to launch the rights issue for 1.15 billion new shares, using the proceeds for funding its plant expansion located in Java, outside Java, also Philippines. The said expansion is planned for next five years. ROTI targets 20% sales growth for this year. In the first quarter (Q1), ROTI booked sales of Rp602.5 billion, down 1.3% from Rp610 billion in Q1 last year. The Company booked net profit of Rp29.9 billion in Q1 this year, dropped 65% from Rp86.3 billion in the same period last year.
