JAKARTA. PT Integra Indocabinet Tbk (WOOD), a company engaged in the wood processing for furniture, has reduced its sales growth target this year to 45%-50% year-on-year (yoy).

Wang Sutrisno, Director of WOOD, said that this target reduction is adjusted based on the increased housing credit interest rate in the United States (US), now reaching 7%.

“The sales of furniture and building component has a strong correlation with property market,” Sutrisno explained in an official statement.

For the record, WOOD is still relying on exports. “Especially to the US market,” Sutrisno added.

Furthermore, WOOD has initiated several efficiency strategies on production costs to maintain its performance growth this year. “The company could still ensure that its net profit is still growing,” Sutrisno stated. (KR/ZH)