Tuesday, 25 June 2019 | 06:34 WIB

Hartadinata Abadi Obtains Revenues of IDR 2.7 Trillion in 2018

Hartadinata Abadi Obtains Revenues of IDR 2.7 Trillion in 2018 (special)

JAKARTA, NETRALNEWS.COM - PT Hartadinata Abadi Tbk, an integrated producer and provider of Indonesian gold jewelery, has successfully obtained revenues of IDR 2,746 trillion in 2018, or a growth of 10.6 percent.

The revenues growth was supported by an increase in gold prices during 2018, growth of sales volume to wholesalers of three percent, as well as sales from self-owned stores amounting to 2.1 percent of the company's total revenues.

With revenue growth experienced in 2018, the company managed to raise its pre-tax profit for the year to reach IDR 165.8 billion, a rise of 12.6 percent compared to IDR 143.2 billion in the same period in 2017, thus posting net profit in 2018 of IDR123.8 billion.

Sandra Sunanto, President Director of Hartadinata Abadi, said the company continues to be committed to becoming a nationally-minded company that builds the image of Indonesia, and is reputable and contributes to improving the welfare of the community.

Throughout 2018, the company has expanded its distribution network to the cities of Medan and Madura as well as increasing retail distribution networks in Jakarta and also the island of Batam.

"In the future, the company will continue to strengthen market penetration through expanding retail and wholesaler networks to all cities in Indonesia," Sandra said on Tuesday (11/6/2019).

Last year, the the sales growth was still dominated by the low-grade jewelry market for the lower middle class segment which contributed 60.1 percent to the total products marketed by Hartadinata Abadi. The high contribution of the lower middle class makes the company consider to maintain product penetration in this class market.

For this achievement, the company has conducted market penetration and product and market development. In addition, the company also strengthened its Research and Design Division to improve product quality and increase market coverage through new wholesalers/retailers and ACC stores.

The company has opened eight new gold jewelery stores during 2018, consisting of 5 new ACC stores at Topaz Residence Bandung, Metro Pasar Atom Jakarta, Sampang, Pasean Madura and Mega Mall Batam Center, and 3 ACC stores at Grage Mall Cirebon, Solo Square, and Medan Fair Plaza in collaboration with Matahari Department Store to increase competitiveness by entering new markets in all cities in Indonesia.

Jewelry sales growth is influenced by two factors, namely economic factors and purchasing power factors. To respond to market share that is increasingly wide open, the company applies a strategy to strengthen branding.

"In 2018, the company introduced its Brand Ambassador for the first time, namely Indonesian pop singer Rossa, who is accepted by all levels of Indonesian society, and is able to represent the company's image. In addition, the company also increased the quality of services to its customers through the company's sales force, intensive product development by prioritizing the superiority or uniqueness of the company's products, as well as using technology to support marketing activities through the same market share as last year, "added Sandra Sunanto.