JAKARTA. PT Sri Rejeki Isman Tbk (SRIL), a textile and garment manufacturer under the brand of Sritex, booked loss of USD 78.03 million, equal to approximately IDR 1.17 trillion, in the first half of 2023.

According to the released financial report, the loss resulted from SRIL’s sales that only reached USD 166.90 million or IDR 2.50 trillion in H1 2023. It was 52.17% lower than the performance seen in the same period last year, in which the company posted sales of USD 348.89 million.

Based on the market scope, the decline in SRIL’s sales was visible in both domestic and export markets. Domestic sales in H1 2023 were down to USD 85.67 million, whereas export sales were corrected to USD 81.26 million.

In H1 2022, domestic sales of SRIL managed to hit USD 177.06 million, while the export generated USD 171.83 million of sales.

As of now, SRIL’s equity is in a deficit of USD 859.05 million, while its total assets were recorded at USD 707.43 million. (KR/ZH)