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ISSUER NEWS - JAKARTA. PT Nippon Indosari Corpindo Tbk (ROTI), the producer of Sari Roti, has reported a significant growth in its performance throughout the period of January to March 2024. ROTI net profit has surged by double digits.
According to the financial report released on March 30, 2024, ROTI recorded a net profit attributable to the parent entity of IDR 73.78 billion, increase of 50.09% from IDR 49.15 billion on March 30, 2023.
This achievement was supported by ROTI's revenue growth throughout the first quarter of 2024. The company reported gross revenue of IDR 1.13 trillion as of March 2024, marking a 4.04% annual increase.
However, sales of white bread reached IDR 665.94 billion, a decrease of 2.84% YoY. Meanwhile, sales of sweet bread contributed IDR 376.27 billion, a decrease of 5.29% annually. Furthermore, sales of Nippon Indosari Corpindo's cakes fell from IDR 94.58 billion. On the other hand, other revenues expanded by 102.51% annually to IDR 14.54 billion.
Despite this, sales returns shrank by 24.61% to IDR 179.72 billion and discounts amounted to IDR 5.71 billion. As a result, ROTI's net sales reached IDR 951.27 billion, an increase of 1.09% YoY from IDR 940.96 billion.
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ROTI's net profit was also boosted by the efficiency measures implemented by the bread producer. For instance, ROTI's cost of goods sold decreased by 2.09% annually to IDR 434.15 billion.
In addition, ROTI's total assets amounted to IDR 3.91 trillion as of March 31, 2024. This figure represents a decrease of 0.70% from the position as of December 31, 2023, which was IDR 3.94 trillion.
ROTI's total liabilities as of March 31, 2024, amounted to IDR 1.44 trillion, down from IDR 1.55 trillion as of December 31, 2023. Meanwhile, ROTI's total equity as of March 31, 2023, amounted to IDR 2.46 trillion.
