The prospect of spindo steel pipe business is brig
In the first nine months of this year, steel pipe industry of Indonesia (spindo) still performed well. As of September 30, 2019, spindo's sales and service revenue reached 3.61 trillion dong, an increase of 6.49% over the same period last year. Even, the annual net profit increased by more than 7.5 times, to 122.25 billion Dong.
Most or 92.15% of spindo's sales and service revenue comes from China. The three main business areas are the capital region (DKI) of Jakarta, with revenues of 956.03 billion Dong, 9756.4 Dong and 628.26 billion Dong.
According to the product category, Pipa Baja Las lurus accounts for the highest share of sales and service revenue, accounting for 2.59 trillion dong or 71.75%, and the rest is the revenue of Pipa Baja Las spiral, steel plate and other services.
Spindo management believes that the net profit growth in the first nine months of this year is due to efficiency strategies.
"I don't have detailed data, but the increase in profits is due to the proper management of inventory and customer education," Johannes Edward, spindo's Investor Relations Manager, told reporters
Refer to the financial report of September 30, 2019 in depth, under the growth of sales and service revenue, spindo can stop the increase of sales cost. If calculated, the cost of sales increased by 4.35% to 3.12 trillion dong compared with last year, while the other burden of spindo company could be reduced almost seven times to 12.61 billion Dong.
Meanwhile, other income increased by 16.19% year on year to 97.81 billion Dong. Several cost savings and other revenue increases helped keep spindo's performance to profitability.
Since 2018, spindo's net profit has continued to soar. According to records, the net profit has increased by more than 5.5 times to 48.72 billion Dong. The net profit growth trend continued until the first quarter and the first half of 2019, during which the net profit increased by 2 times to 21.67 billion Dun and 4 times to 52.4 billion Dun respectively.
Based on its performance through Se
Most or 92.15% of spindo's sales and service revenue comes from China. The three main business areas are the capital region (DKI) of Jakarta, with revenues of 956.03 billion Dong, 9756.4 Dong and 628.26 billion Dong.
According to the product category, Pipa Baja Las lurus accounts for the highest share of sales and service revenue, accounting for 2.59 trillion dong or 71.75%, and the rest is the revenue of Pipa Baja Las spiral, steel plate and other services.
Spindo management believes that the net profit growth in the first nine months of this year is due to efficiency strategies.
"I don't have detailed data, but the increase in profits is due to the proper management of inventory and customer education," Johannes Edward, spindo's Investor Relations Manager, told reporters
Refer to the financial report of September 30, 2019 in depth, under the growth of sales and service revenue, spindo can stop the increase of sales cost. If calculated, the cost of sales increased by 4.35% to 3.12 trillion dong compared with last year, while the other burden of spindo company could be reduced almost seven times to 12.61 billion Dong.
Meanwhile, other income increased by 16.19% year on year to 97.81 billion Dong. Several cost savings and other revenue increases helped keep spindo's performance to profitability.
Since 2018, spindo's net profit has continued to soar. According to records, the net profit has increased by more than 5.5 times to 48.72 billion Dong. The net profit growth trend continued until the first quarter and the first half of 2019, during which the net profit increased by 2 times to 21.67 billion Dun and 4 times to 52.4 billion Dun respectively.
Based on its performance through Se