ISSUER - JAKARTA. The rice processing and distribution issuer, PT Buyung Poetra Sembada Tbk (HOKI), stated that they continue to implement efficiency, diversification, and innovation strategies to maintain the company's performance.
In the third quarter of 2023, HOKI recorded a net loss attributable to the parent entity of IDR12.58 billion, compared to a profit of IDR 1.79 billion in the same period the previous year.
"The financial report results of HOKI in 2023 can be awaited until the official release to the public. However, overall the company continues to carry out various efficiencies, diversifications, and innovations to improve the company's performance," explained Budiman Susilo, Director of HOKI, to Kontan, on Monday (12/2).
Furthermore, HOKI successfully recorded a 34% YoY sales growth to IDR 888.50 billion in the third quarter of 2023. Seeing this, HOKI this year targets a 10% sales growth of the DailyMeal business through HDN (PT Hoki Distribusi Niaga) with better profitability compared to last year.
HOKI is optimistic that the strategic steps implemented, including the launch of innovative products and business expansion, will be the main drivers in achieving this growth target.
Regarding capex, this year the company has budgeted about IDR 15 billion in capex. This allocation will mostly be used for the development of the company's DailyMeal products through HDN, such as land purchases, factory construction, and others.
Budiman continued, that this year HOKI will increase production capacity by building a new factory in Boyolali. This factory development is in collaboration with PT Gita. The hope is that the factory can operate by 2025 and increase the company's production capacity in the FMCG business segment through DailyMeal.
On the other hand, the company will not only increase capacity, but also expand the distribution network of all its products, by collaborating with various parties to be able to reach all regions throughout Indonesia, both in modern and traditional markets.
"In addition, HOKI also utilizes waste generated from the rice production process to be turned into a renewable energy business using rice husks and has consistently made a profit," he added.