Pan Brothers profits up 50 percent on rising sales
Geplaatst: za mar 08, 2014 3:39 am
Publicly listed PT Pan Brothers, one of Indonesia’s major garment manufacturers, managed a substantial boost in profits on the back of surging domestic sales and Asian exports.
Pan Brothers announced in its latest financial results published on the Indonesia Stock Exchange (IDX) website on Thursday evening that the company managed to boost its profits to US$10.45 million, or 50.79 percent higher than the $6.93 million a year before.
The profit growth was supported by an 18.53 percent year-on-year increase in its sales, which went up to $339.72 million last year, from $286.61 million in the previous year.
The publicly listed company used to produce almost entirely for European brand-name clients, but it has started to ship some of its products to the burgeoning Asian market to help cushion a slowdown in its conventional export markets.
The company has also continued to book higher sales in the domestic market, growing much faster than that of its overseas trade.
http://www.thejakartapost.com/news/2014 ... sales.html