Issuer provider of cloth, uniforms and fashion, PT Trisula Textile Industri Tbk (BELL) is optimistic that the trend of improving performance in the first quarter of 2023 will continue in the second quarter of 2023. BELL Corporate Secretary Terry Aditya said that in the first quarter of 2023, BELL's performance was supported by the procurement of fabrics. He explained that the fabrics produced are usually customized orders or according to customer orders. "So different customers will have different specifications, so BELL can adjust to requests from customers. This includes fire retardant fabrics, so here the product development process also plays an important role in continuously improving the quality of BELL fabrics," he explained, Monday ( 29/5).

He continued, his party also paid special attention to the ESG aspect. BELL strives to be able to produce recycled fabrics. The company continuously monitors the Wastewater Treatment Plant (WWTP), uses Oeko-Tex certified raw materials, uses renewable energy.

Terry explained that not only products are produced according to ESG rules, but the entire production process has also led to this concept.

For information, BELL recorded a net profit of IDR 4.1 billion in the first quarter of 2023, up 108% compared to the previous year, aka year on year (YoY) from around IDR 1.97 billion.

In the financial report through the Indonesia Stock Exchange, the increase in demand for textile and retail products in the domestic market prompted BELL to record sales of Rp 111.4 billion, an increase of 16% from the same period last year of around 95.8 billion.

Meanwhile, cost of goods sold was recorded at IDR 76.2 billion, an increase of 16% compared to IDR 65.7 billion in the first quarter of 2022. BELL's domestic sales were recorded at IDR 105.8 billion or 95% of BELL's total sales. Meanwhile, export sales amounted to Rp 5.6 billion or 5% of total sales.

Terry explained, the Retail sales segment also experienced constant double-digit growth, through the JOBB and Jack Nicklaus brands. He said, Companies in the retail segment continue to monitor fashion updates regularly, so that their product styles can be kept up to date. In addition, the strategy for the retail segment is to open a new point of sales.

"The target is 14 points this year, to strengthen the company's channel coverage," he continued.

Terry revealed that BELL hopes that 2023 will be the year in which the Company can rebound again, where good results have been seen in the first quarter of 2023.

"In the second quarter of 2023, the most prominent performance will be obtained from the retail segment, with an increase in purchases of clothing related to the Eid event. So we hope this momentum will continue. However, it should also be noted that the working days in the second quarter of 2023 will be smaller than other quarters, because in April during the Lebaran moment we effectively worked less than 20 days," he explained.

This year, BELL allocated a capex of IDR 9 billion which will be used to rejuvenate machines and add points of sales to support the retail segment. Until now, the capex absorbed is approximately IDR 6 billion.

Regarding this year's sales growth target, BELL is aiming at a figure of 22%, while the net profit before tax target is around IDR 12 billion.

"This year the company is also targeting sales of fire-retardant fabrics and recycled fabrics. Apart from product development, the company hopes sales from the fabric and retail segments can drive growth, as well as recovery from the uniform segment," he said.