JAKARTA: PT Nippon Indosari Corpindo Tbk recorded up to 25% increase in sales during the first half of the year, surpassing the target set by the bread producer.
The positive performance was the result of Sari Roti bread sales and the operation of two new factories in Semarang (as of February) and in Medan (as of May).The company currently produced 1.2 million pieces a day, while in 2009 it produced less than 1 million pieces a day. We expect total production this year at 1.5 million pieces a day, Operating Director Yusuf Hady told Bisnis over the weekend.Yusuf explained that the management has allocated 75% of 2010 net income to construct two new factories with investment of IDR160 billion. Those two factories will be located in Cibitung, Jakarta and in Makassar, South Sulawesi. The factory in Jakarta is expected to complete in December, he said.To finance the factory construction, the company will use IDR120 billion from its internal cash. It will also rely on income from sales for investment and expansion. For other needs, we can borrow from bank or from other financing sources, he added.The companys ROTI-coded shares fell 2.99% to IDR3,250 in the first session trading. (t04/msw)
