Sunindo Adipersada (TOYS) Targets 23% Revenue Growth in 2024

February 26, 2024, 01.15 AM  | Reporter: Venny Suryanto
Sunindo Adipersada (TOYS) Targets 23% Revenue Growth in 2024

ILUSTRASI. Toys Kingdom and PMB Toys are collaborating with the Traffic Police to present police cars and motorbikes to commemorate Bhayangkara Traffic Day, 22 September 2023

CORPORATE STRATEGIC - JAKARTA. Toy manufacturer PT Sunindo Adipersada Tbk (TOYS) is optimistic in projecting a 23% growth in the company's revenue with a net profit target of 11%. The largest contribution to sales is still dominated by the export market.

The President Director of PT Sunindo Adipersada, Iwan Tirtha, said that this target is in line with the promising prospects of the toy business and is optimistic that there will be an increase.

"We estimate a revenue growth of 23% with a net profit growth target of 11%," Iwan told KONTAN on Sunday (25/2).

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To achieve this target, TOYS is preparing a strategy, one of which is to continue to strive to open new markets such as in Africa and the Middle East, visit buyers according to existing prospects. In addition, the company is also focused on increasing the local market because its potential is also very promising.

In conducting exports, TOYS has exported to several regions such as Australia, Europe such as Germany, Poland, France, the United States, Dubai and Asia in Japan and Hong Kong.

"About market expansion, the company is still targeting the Africa and Middle East regions," he continued.

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As a note, until the third quarter of 2023, TOYS has pocketed a revenue of IDR 52.4 billion. This figure is down 42.7% from the same period last year which was IDR 93.3 billion. Sunindo Adipersada's net income is supported by export sales of IDR 46.4 billion. While domestic sales amounted to IDR 5.97 billion.

Meanwhile, the cost of revenue appears to have decreased in the third quarter of 2023 to IDR 51.75 billion, from the same period last year which was IDR 77.16 billion. However, TOYS is recorded to have pocketed a net profit of IDR 11.6 billion. Whereas in the same period previously, it pocketed a profit of IDR 33.8 million.

Editor: Syamsul Azhar

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