LISTED COMPANY - JAKARTA. PT Ultrajaya Milk Industry & Trading Co Tbk (ULTJ) is optimistic about continuing its positive performance trend into 2024.
As known, ULTJ managed to record an 8.36% year-on-year (YoY) increase in sales to IDR 8.30 trillion in 2023. At the same time, the net profit attributable to the parent entity of ULTJ grew 21.69% YoY to IDR 1.17 trillion.
Corporate Secretary of Ultrajaya Milk Industry & Trading Co, Helina Widayani, stated that ULTJ's positive financial performance was influenced by a surge in sales of Ultra High Temperature (UHT) milk products and ready-to-drink (RTD) tea, coupled with well-managed expenditure cost management.
ULTJ itself targets to achieve double-digit sales growth in 2024 with the hope that consumer demand remains stable.
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“The performance of the first quarter of 2024 is not significant even though there are Election and Ramadan events,” said Helina, on Tuesday, April 2, 2024.
To maximize business potential throughout this year, ULTJ strives to optimize distribution capabilities, so that its product stocks remain stable and are smoothly distributed in the market, especially in areas outside Java Island.
ULTJ also actively participates in exhibitions and intensifies promotional activities to strengthen the Ultrajaya brand in the market and expand the consumer segment.
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On the other hand, ULTJ management also recognizes production challenges, one of which is caused by commodity price volatility, such as cocoa chocolate. One of the strategies implemented by ULTJ is to monitor main materials and make more raw material purchases when the selling price is better through cooperation with the company's loyal vendors.
Furthermore, ULTJ is almost completing a new warehouse project in the MM2100 industrial area, which is currently in the commissioning stage. “This new warehouse is a switch from the rented warehouse, which certainly impacts cost efficiency and increases its size,” revealed Helina.
In the same place, ULTJ is currently building a UHT milk processing plant. It is hoped that this facility will increase production capacity and make ULTJ's production process more efficient.
According to Kontan's records, ULTJ has allocated a capital expenditure (capex) budget of US$ 30 million in 2024 for the construction of new warehouses and factories.
