MKNT Cuts Sales Target

By Editorial Team 16/09/2019
Summary

PT Mitra Komunikasi Nusantara Tbk (MKNT) lowers this year’s business growth targets. The company is facing fierce competitors from the digital platform in the mobile credit wholesale market. As a result, in the first half of 2019, its net sales dropped to Rp 1.93 trillion or down 33 percent year-on-year and led to Rp 116.28 billion losses.

MKNT President Director, Jefri Junaedi, revealed to Kontan that the management assessed the condition and decided to reduce sales target of 2019 to Rp 4 trillion, Rp 0.75 trillion short of last year’s target at Rp 4.75 trillion. The reduction is quite significant since the company set the sales target to reach Rp 5.7 trillion at the beginning of the year.

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