JAKARTA - PT Toba Surimi Industries Tbk (CRAB), a company engaged in the processed crab meat industry, sets the revenue target to IDR 616.85 billion until the end of 2023. In order to attain the target, the issuer will be focusing on several strategies, including expanding market share and production capacity.

According to the public expose quoted Wednesday (14/6), the company aims to secure less than 10% growth in 2023 revenue compared to the revenue realisation in 2022 of IDR 571.16 billion. As of Q1 2023, CRAB managed to collect IDR 152.89 billion of revenue, higher than the revenue seen in the same period in 2022 of IDR 135.59 billion.

For the gross and operating profit, the management eyes IDR 61.69 billion and IDR 56.75 billion, respectively. The gross profit in 2022 was recorded at IDR 65.84 billion, while the operating profit reached IDR 23.67 billion, resulting in net profit of IDR 10.4 billion.

This issuer exports processed crab meat to several countries, including the United States (US) with a market share of 57%, followed by Europe with 22% market share, Asia 12%, Australia, Canada, United Kingdom (UK) of 8.5%, and domestic 0.5%. in 2022, export sales generated IDR 567.68 billion, while the domestic market brought in IDR 3.47 billion of the total sales of IDR 571.15 billion. (LK/ZH)