CLEO is Optimistic that its 3rd Quarter 2022 Sales Could Achieve Above IDR 1 trillion

By : Nata Kesuma | Wednesday, October 19 2022 - 09:25 IWST

PT Sariguna Primatirta Tbk (Tanobel Group)
PT Sariguna Primatirta Tbk (Tanobel Group)

INDUSTRY.co.id - Surabaya, 15 th October 2022 - PT SarigunaPrimatirta Tbk (Tanobel Group), a producer of Bottled Drinking Water (AMDK) with IDX ticker code: CLEO:IJ, is optimistic that sales in the 3rd quarter of 2022 will exceed IDR1 trillion.

The consistently growing CLEO sales were achieved because the Company continued to actively build new factories and develop the distribution network every year.

CLEO's own business has been growing rapidly, where from 2017 to 2021 CAGR (Compound Annual Growth Rate) CLEO's net profit grew by 29%.

"Seeing the solid management team at CLEO, we are optimistic that every year we can have double- digit growth," said CLEO's Deputy Managing Director, Melisa Patricia.

This year the Company built three new factories. Each is located in the cities of Balikpapan, Palangkaraya, and Palembang. Within a year the Company's distribution network nodes grew by 53%YoY, from 173 distribution network nodes in August-2021 to 264 distribution network nodes in August 2022.

Construction of new factories spread across various cities in Indonesia and the development of a strong distribution network is also needed to reduce transportation costs, due to the heavy and space-consuming nature of drinking water.

Along with the development of an increasingly prospective business, CLEO is also always active in carrying out various activities to strengthen relationships with customers and partners. After completing the CLEO Sharing Blessing Program which provided various prizes in mid-September, the Company held the Cleo Culinary Festival on 1 – 2 October 2022 at the East Parking Plaza Surabaya which was attended by hundreds of MSMEs (Micro, Small and Medium Enterprises).

Cleo Culinary Festival, which carries the theme “Purely the Taste of Nusantara”, is the Company's initiative to play a role in developing the economic level of culinary business players and also MSMEs (Micro, Small and Medium Enterprises).

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