JAKARTA. PT Sariguna Primatirta Tbk (CLEO), a bottled mineral water manufacturer under Tanobel Group, managed to score consolidated net profit of IDR 115.3 billion in the first quarter of 2024.

Its net profit increased 92.5% year-on-year (yoy) or from the same quarter last year. For the record, CLEO only scored net profit of IDR 59.9 billion in Q1 2023.

CLEO’s net profit surge is supported by its consolidated sales of IDR 626.5 billion in Q1 2024, up 38% year-on-year (yoy) from IDR 455.5 billion in Q1 2023. CLEO believes that this growth is driven by over 31 units of its water factories, making CLEO the bottled mineral water manufacturer with the highest number of factories in Indonesia.

“This achievement is in line with the direction of performance that we expect, where the Company always targets double digit growth every year for both sales and net profit,” added Melisa Patricia, CEO of CLEO, in her official statement.

In the next quarter, CLEO is said to continue conducting several strategies to promote this growth trend. “To support this, in 2024 CLEO is again making aggressive expansion plans in developing factories and distribution points,” Patricia added further.

“In order to realise both strategies, CLEO has prepared investment fund worth IDR 450 billion. It will be used fo estabilishing new factories in Palu, Pontianak, and Pekanbaru. In addition, it will also expand its existing factories by increasing machine capacity and extending distribution network. (KR/ZH)