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APSyFI: The national textile industry is headed for a trade deficit, 2018 exports grow 1% and imports grow 14% (yoy).--IKATSI: The growth of the national textile industry is still hampered by floods of imports, Indonesia needs a clothing security law.


	
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Home arrow Latest News arrow Sritex (SRIL) Spin Two Digit Growth Target


				
			
			
Sritex (SRIL) Spin Two Digit Growth Target PDF Print E-mail
Written by Maizer   
Monday, 29 April 2019

Textile producer PT Sri Rejeki Isman Tbk (SRIL) wants to continue positive performance last year. This issuer is optimistic that it can record double-digit growth this year.

 

Quoting the 2018 financial report, Sri Rejeki posted sales of US $ 1.03 billion, growing 36.1% compared to 2017 revenues of US $ 759 million. "We are supported by 95% orders coming from old customers," said Welly Salam, Corporate Secretary of PT Sri Rejeki Isman Tbk.

 

Nevertheless, SRIL's selling expenses also rose 24.7% to US $ 15.6 million compared to 2017 which amounted to US $ 12.5 million. The increase in sales expenses was contributed by the increase in general and administrative expenses and the increase in exchange rates last year.

 

But SRIL is still able to record a rise in net profit due to high revenue growth. Noted, SRIL pocketed a net profit in 2018 of US $ 84.5 million, up 24.2% compared to 2017 net income of US $ 68.03 million.

 

Talking about the prospects for this year, according to Welly, business in 2019 is still likely to grow rapidly. "For this year's top line and bottom line targets to grow 10% -12%," he explained.

 

Throughout 2018 export sales dominated revenue, which amounted to 60% or around US $ 623 million. The export segment grew 54% higher compared to 2017 which was recorded at US $ 404 million.

 

Yarn products account for 40% of the export segment, or around US $ 254 million, followed by apparel at US $ 164 million or around 26% of total exports. The Asian region still dominates export sales as much as 61% of total exports or around US $ 384 million.

 

Asian sales growth grew 51% compared to 2017 which was recorded at US $ 253 million. The export segment was subsequently contributed by the European market by 15% or US $ 98 million.

 

The European market rose rapidly by 88% compared to the previous year which recorded a value of US $ 52 million. While domestic sales contributed US $ 410 in 2018 or grew 15% compared to 2017 amounting to US $ 354 million.

 

SRIL currently has many production lines. The capacity details are 180 million meters of raw cloth per year, 240 million yards of cloth per year, 1.1 million spinning per year and 30 million pieces of garment per year. SRIL is still focused on increasing production utilization to above 90% for all its production divisions.

 

 

 

 

 
		
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