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Tiga Pilar eyes Rp 6.8 trillion in revenues by expanding sales points
Publicly listed food company Tiga Pilar Sejahtera Food (TPS Food) will expand its sales points to achieve its target of earning Rp 6.8 trillion (US$513.4 million) in revenues this year, a 13 percent increase from Rp 6 trillion in 2015.
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Tiga Pilar Sejahtera Foods president director Joko Mogoginta poses by holding a wayang (traditional puppet) and the company's noodles products. (Kontan/Carolus Agus Waluyo)
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ublicly listed food company Tiga Pilar Sejahtera Food (TPS Foods) will expand its sales points to achieve its target of earning Rp 6.8 trillion (US$513.4 million) in revenues this year, a 13 percent increase from Rp 6 trillion in 2015.
The company's finance director Sjambiri Lioe said the firm will aim to deliver its products to 200 cities across the country this year, up from 162 cities at present.
“We’re optimistic that this marketing strategy will give a boost to our financial performance,” he said after the company’s annual general meeting in Jakarta on Thursday.
In addition to that, the company will also launch seven new brands of staple food products, including rice, and 17 brands of consumer foods such as snacks this year, the company’s corporate secretary, Desi Lina, said.
The company has just booked Rp 1.5 trillion after issuing Islamic debt securities. Ninety percent of the proceeds were used to refinance its obligations, while the remaining 10 percent, worth Rp 300 billion, was used to expand the capacity of its rice mill in Sulawesi.
TPS Foods, whose best-known brands include Taro and Mie Kremez snacks, booked a 27 percent rise in net sales last year to Rp 6 trillion, up from Rp 5.1 trillion in 2014. (sha/ags)
