3Q19 Outstanding Performance amid Soft Consumption
In 3Q19, KINO posted the revenue growth of Rp1.26 trillion or a 41% y-y increase and a 3% q-q gain. This growth was driven by its business segments. The personal care segment in 3Q19 contributed 44% to revenues or a 21% y-y increase. Meanwhile, the beverage segment contributing 38% to revenues recorded strong growth of 17% y-y. The food and pharmaceutical segments succeeded in posting revenues of Rp119 billion and Rp106 billion, respectively. The two segments posted soaring sales on the back of existing products with high upside potential, while the pharmaceutical segment is supported by sales of food supplement syrup, “Lola Remedios” sold in the Philippines. Furthermore, the new segment of pet food posted revenues of Rp8 billion contributing less than 1% to revenues. Despite consumers’ soft consumption, KINO was capable of successfully securing double-digit growth.
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