Monday, 01 November 2021

Garudafood Achieves a Sales Growth of 10.9% in Quarter III-2021 (More Optimistic in 2022)

Jakarta, 01 November 2021 - PT Garudafood Putra Putri Jaya Tbk ("Garudafood") held a virtual public expose at Garudafood's head office in Jakarta. The public expose was led by Paulus Tedjosutikno as the Director of Garudafood. The public expose described the company's YTD 3Q2021 performance and current operational conditions.

Garudafood achieved positive performance in YTD 3Q2021 with a total net sales of Rp 6,369 billion or a growth of 10.9% compared to the same period of the previous year. The net profit booked increased by 87.6% or Rp 370 billion compared to the same period of the previous year and the earnings per share which also grew by 48.9%. The positive growth of the food segment (11.1%) as a result of sales in the domestic market, which was supported by coated snacks, dairy, wafer sticks, and confectionery products. In addition, Garudafood's subsidiary, PT Mulia Boga Raya Tbk (KEJU), which was acquired in October 2020, also contributed to this positive increase in sales. In the third quarter of 2021, KEJU sales grew 7% compared to the same period of the previous year.

Moreover, as an effort to recover Indonesia's economy, Garudafood fully supports the various policies issued by the government. Among others by making efforts to prevent and deal with the pandemic to create a safe, comfortable and healthy work environment that increases productivity and maintains product availability in the market.

At the end of 2021, Garudafood remains optimistic that it can continue to grow and maintain its performance by focusing on product distribution and equity, whilst consistently maintaining the quality of Garudafood products. In addition, Garudafood also continues to open up and capture opportunities for open collaboration with various stakeholders to support business growth strategies.