Pan Brothers Tbk (PBRX) is optimistic that sales this year will grow by 10 to 15 percent to USD 530.04 million to USD 554.53 million. High demand from the export market was the catalyst for the company’s business growth.
“Consumers in our garment manufacturer business are mostly global buyers, and demand for exports is increasing so we project sales to increase by 10 to 15 percent,” said Ratnasari Hartono, Director of PBRX.
The company received requests from a number of new buyers, including Kathmandu, IKEA, and Express Limited. Global garment companies are currently focusing their production in Asia because garment sales in Asia are better than in Europe and the United States (US). “Asian garment manufacturers received a request to fill the global fashion brand stores in Asia,” said Ratnasari.
Until March 2017, the company posted sales of USD 100.22 million, an increase of 9.68 percent over the same period last year. Contribution of export sales reached 93 to 95 percent of total sales. Operating profit reached USD 4.4 million, surging 48.06 percent from the first quarter of 2016. (*)