JAKARTA – Amidst the slowing down of domestic textile industry, PT Trisula Textile Industries Tbk (BELL), a textile manufacturer and trading company, scored sales growth of up to 17% year-on-year (yoy) to IDR 538.6 billion at the end of 2023.

According to Financial Report 2023 of BELL, quoted today (2/4), BELL’s revenue was dominated by sales to domestic third parties, contributing IDR 486.3 billion or 90.3% of total sales. This segment was then followed by export to third parties of IDR 26.65 billion and sales to domestic related parties of IDR 25.5 billion.

Revenue increase, accompanied with efficiency in expenses and losses, managed to push net profit soaring by 157% yoy to IDR 11.5 billion, from only IDR 4.46 billion in 2022.

In addition, based on the press release, retail expansion also played a significant role in boosting BELL’s financial performance. Through its subsidiary, PT Mido Indonesia, BELL opened 13 new outlets of JOBB and Jack Nicklaus in 2023, bringing the total outlets to 133 JOBB outlets and 46 Jack Nicklaus outlets.

“In 2024, the company targets the opening of 10 new sotres for retail outlets of JOBB and Jack Nicklaus,” added the management through the information disclosure.

“Last year's success and this year's expansion plans make us quite optimistic that we will post another year of sales growth for 2024." said BELL’s President Director, Karsongno Wongso Djaja. (ZH)