FOOD Revises Sales Target over Sluggish Purchasing Power

By Editorial Team 07/10/2019
Summary

Beef and chicken supplier PT Sentra Food Indonesia Tbk slashed the sales target to less than a half from 23 percent to only 6-10 percent for the rest of this year, following the declined net sales by 2.91 percent to Rp 61.08 billion in the first half of 2019 from the same period in 2018. The sales of raw meat still rose 4.49 percent to Rp 24.92 billion. However, processed meat sales dropped by 7.45 percent to Rp 36.16 billion.

To maintain this year’s performance growth, the FOOD stock-coded company would spur sales in the retail segment following better growth opportunities in the sector rather than business to business (B2B). The B2B segment has been dominating FOOD’s net sales by up to 60 percent. Customers in the B2B sector like PR Trans Retail Indonesia contributed 17 percent to the sales, while PT Lion Superindo provided 10 percent. "We are also optimizing opportunities this year by developing new products to be offered to the market," FOOD Director August Sani Nugroho told Kontan. The company will market fish products in the fourth quarter of 2019.

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