Multistrada eyeing Rp3.15 trio sales - Insider Stories

Indonesia's fourth largest radial tire maker PT Multistrada Arah Sarana Tbk (MASA) booked Rp2.01 trillion sales in 2010, rose 18.64% than Rp1.68 trillion in 2009. The company is targeting Rp3.15 trillion sales this year.

PT Multistrada Arah Sarana Tbk (MASA) President Director Pieter Tanuri said the sales are in accordance with their 2010’ initial target.
“Macro economic growth is still good although our rubber supply was disrupted due to weather factors. This resulted in the increase of raw materials price. However, in general, it is still positive as we experienced higher demand from automotive sector either for OEM tire or replacement,” as he said on a press release, today.

MASA-coded share sales growth in 2010 was supported by bigger export and domestic sales. Export contributed 73% or Rp1.47 trillion from company’s total sales.
Export increased 12% compared to 2009. The remaining 27% or Rp535 billion came from domestic sales which up 43% than 2009.
“As for this year, MASA is targeting a 50% higher sales or Rp3.15 trillion. To meet the target, we improve our production capacity that is expected to complete in the second semester.”

Net income slightly increased 0.69% to Rp176.08 billion from Rp174.86 billion. Operating profit augmented 11.32% to Rp256.96 billion from Rp230,82 billion. However, operating margin fell to 12.80% from 13.65%. Gross profit improved 17.57% to Rp435.71 billion from Rp370.60 billion.