Tuesday, 15 October 2019 | 06:05 WIB

Catur Sentosa Adiprana Targets Sales Growth of 13 Percent in 2019

Catur Sentosa Adiprana Targets Sales Growth of 13 Percent in 2019 (facebook/mitra10)

JAKARTA, NETRALNEWS.COM - Listed construction materials company PT Catur Sentosa Adiprana Tbk (IDX:CSAP) targets its sales in 2019 to grow by 13 percent (year-on-year/YOY) to IDR 12.3 trillion. The company also projects an increase in contributions from the retail segment, in addition to the building material distribution business which has become the main business since the company was founded.

CSAP Finance Director Tjia Tjhin Hwa said this year's sales would be supported by the growth target of the distribution segment of 10 percent, and the retail segment reaching 20 percent.

"Our sales target for this year is IDR 12.3 trillion," he said in a public presentation in Jakarta on Thursday (6/27/2019).

In 2018, the company's total sales from Mitra10 and Atria retail store networks reached IDR 10.9 trillion, with net profit of IDR 96 billion.

In addition, the company also held an Annual GMS with one of the decisions agreed upon by shareholders regarding the planned dividend distribution. "Our AGM agreed of a dividend distribution of IDR 17.8 billion or IDR 4 per share. This dividend will be distributed on July 31, 2019," he said.

Tjhin Hwa added the company has also set its capital expenditure (capex) at IDR 550 billion. "We will use IDR 500 billion for the modern retail segment, and IDR 50 billion for the distribution segment," said Tjhin Hwa.

He said 70 percent of the capital expenditure comes from bank loans and the rest from internal cash. "As of the first quarter of 2019, the capex absorbed was IDR 70 billion, Mitra10 had absorbed IDR 60 billion, and IDR 10 billion in the distribution segment. We needed a large capex in Mitra10, because we opened a new store," he said.

According to him, currently CSAP has 30 Mitra10 stores and as many as ten Atria showrooms. CSAP targets to increase the number of Mitra10 stores to 50 units by the end of 2021.

"We operate 42 branches of distribution of building materials in 40 cities and control five major islands, including Bali," he said,

In Quarter I-2019, CSAP sales reached IDR 2.9 trillion, growing 7.5 percent (year-on-year), while net profit stood at IDR 21 billion, an increase as compared to IDR20 billion in the same period last year.