JAKARTA - PT Siantar Top Tbk (STTP), a snack producer, is exploring the United States (US) market to expand export sales potential in the future. In the six months from June 12 2024 until the initial session Friday (13/12), the performance of this issuer's shares grew 17.64% from IDR 10,625 per share to IDR 12,500 per share.

Armin, President Director of STTP said that the company will enter the US market after expanding to Canada. "Regarding the market potential to Canada, the company has started collaborating with good distributors so it is hoped that it will bring good results," he said as quoted on Friday (13/12).

According to him, the company is collaborating with distributors to carry out market penetration and development (market development) to boost exports. "The company is expanding its distributor network with multiple national distributors, carrying out width and depth distribution by implementing the concept of spreading, coverage area and penetration, in addition to new product launching and promotions in modern and traditional markets," he said.

In the third quarter of 2024, STTP sales were recorded at IDR 3.7 trillion, of which domestic market sales were IDR 3.04 trillion and exports IDR 658.77 billion. Food Processing Sales contributed IDR 3.5 trillion and Other Support IDR 200 billion. (LK/LM)