Hartadinata Abadi Books Rp 95 B Net Profit in Third Quarter

By : Atmo And Aldo Bella Putra | Thursday, October 19 2017 - 21:30 IWST

Manajemen Hartadinata Abadi (ki-ka) M ATH Thoriq (Corporate Secretary), Sandra Sunanto (Dirut), Deny Ong (Direktur Keuangan) dan Cun Cun Muliawan (Direktur Produksi & Operasional) -foto Dok INDUSTRY.co.id

INDUSTRY.co.id - Jakarta, PT Hartadinata Abadi Tbk, Indonesia's integrated gold jewelry producer and provider in the third quarter of 2017 posted a net profit of Rp95 billion, up 28.4% over the same period in 2016, amounting to Rp75 billion.

Then total revenue in the third quarter grew 13.1% to Rp 1.860 trillion, compared to the previous period.

There was also an operating income from wholesaler sales which contributed 91.69%, own store 8.30%, and profit 0.01%.

"In this third quarter, the company's performance is in line with what we planned as reflected by the high sales increase, the opening of many new distribution channels / stores, as well as the expansion of companies outside West Java," said President Director of PT Hartadinata Abadi Tbk Sandra Sunanto, in its first corporate performance after IPO, in Jakarta on Thursday (19/10).

Sandra added that sales are dominated by the middle-class segment market which contributes 70% to the company's total sales, thus increasing the company's penetration to the market of this class.

During the third quarter of 2017, Hartadinata has opened five new gold jewelry stores in Bandung, Jakarta, Batam and Banten consisting of 5 ACC stores, targeting the lower middle class.

According to Sandra, the performance of Hartadinata Abadi shows a significant growth in the last three years, with high growth with compound annual growth rate (CAGR) of 33.1% from Rp1,355 million in 2014 to Rp 2,193 million in 2016.

Hartadinata Abadi listed its shares on the Indonesia Stock Exchange (BEI) in June 2017, with the HRTA trading code, included in the Consumer Goods Sector and Sub Sector Others.

HRTA offers 1,105,262,400 shares, all of which are new shares, at par value of Rp100 per share.

The amount is equivalent to 24% of the issued and paid up capital of HRTA after the IPO.

HRTA raised funds from the capital market of Rp 331 billion.

For the funds obtained from the IPO, said Sandra, 50% will be used for refinancing working capital loans.

The remaining 50% of the IPO proceeds will be used for 42% raw material purchases, 6% on machine purchases and 2% for establishment and application of e-commerce system applications.