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ISSUER - JAKARTA. Technology company, PT Mitra Pedagang Indonesia Tbk (MPIX) targets growth in revenue and net profit by 2024. MPIX aims for a net profit increase of 2.5% this year.
President Director of Mitra Pedagang Indonesia Abdul Muidz stated that MPIX's main revenue comes from sales canvassers. Therefore, MPIX will continue to boost the number of partners.
"The revenue target in 2024 is around IDR 1.4 trillion - IDR 1.6 trillion. With a net profit margin that can grow 2%–2.5%," he said when met at the Indonesia Stock Exchange Building, on Wednesday (7/1).
For illustration, this company from Madura recorded revenue of IDR 485.72 billion as of July 31, 2023. This increased by 41.39% annually or Year on Year (YoY) from IDR 343.53 billion.
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Meanwhile, from the bottom line perspective, Mitra Pedagang Indonesia's net profit for the current year reached IDR 12.06 billion. This figure soared 52.07% YoY from IDR 7.93 billion as of July 2023.
Abdul said, that, unlike other technology companies, MPIX prefers to pay sales canvassers rather than burning money for advertising. This is because sales canvassers are needed to acquire customers.
"Now we have more than 650,000 partners and we target to have one million partners this year. Our sales every day can reach IDR 4 billion–IDR 5 billion," said Abdul.
