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A manufacturer of garments and textiles, especially underwear products, PT Ricky Putra Globalindo Tbk (RICY) seeks to improve its business performance in 2022. Just so you know, in the first quarter of 2022, RICY's net sales fell 20.89% year on year (yoy) to Rp 334.75 billion. Luckily, RICY was still able to achieve a net profit of Rp 1.91 billion in the first quarter of 2022, while in the first quarter of 2021 the company suffered a loss of Rp 17.26 billion. Director Ricky Putra Globalindo Tirta Heru Citra said that his party is not too concerned with the results of the performance in the first three months of 2022.

Because one of the strategies currently being implemented by RICY is to focus on selling products that are considered more profitable.

"So, it is natural that there are products that are less profitable, we reduce sales, so that it affects the financial statements," he said, Monday (25/7).

Then, RICY Management targets to be able to achieve net sales growth of around 10% by the end of the year. This target exceeded RICY's realized net sales growth in 2021 by 7% to Rp 1.3 trillion. If this target is met, then RICY's net sales in 2022 could reach around Rp 1.43 trillion.

The majority of RICY's sales are estimated to still come from spinning products, underwear, and outerwear. As for the marketing area, currently RICY's largest sales composition is still aimed at the domestic market at 65%, while the remaining 35% is for the export market.

The company has exported its products to Southeast Asia, East Asia, America and Africa.

Tirta is optimistic that RICY's performance this year will continue to improve in line with the economic recovery of Indonesia and the world after the Covid-19 pandemic. People's purchasing power also looks better this year, especially for shopping for clothing products.

RICY is also trying to strengthen product distribution on online channels. This takes advantage of Indonesia's opportunities in the growing digital economy sector. RICY is also more focused on profitable business lines and optimization of production facilities.

The latest technological innovations in products are also continuously carried out by RICY. The company has also introduced a number of new products under the GR Man brand for men and GT Ladies for women.

Then, there is a new product brand GT Man Socks for sports and school purposes. There are also new homeware products, namely casual clothes.

RICY is also still producing GT Man non-medical masks, although the intensity has decreased. This is in line with the control of the Covid-19 pandemic in Indonesia. In addition, people often buy medical masks for their daily activities.

Not only that, RICY continues to try to dominate the fashion market with the company's flagship brands. For example, GT Man, GT Ladies, GT Man Sport, GT Kid, GTee, homewear and others. RICY also holds fashion product licenses for the Gunze Japan, Body Wild, and Dreamit Beit with Barbie brands.

RICY management itself provides capital expenditure or capital expenditure (capex) of Rp 10 billion this year. The funds will be focused on maintenance and machine replacement so that RICY's factory productivity is maintained.

"We don't have plans to expand the factory yet," said Tirta. For information, RICY has a spinning mill in Cicalengka, West Java with a capacity of 60,000 bales (stacks) per year. In addition, RICY also has a knitting factory in the same location with a capacity of 2,520 tons per year.

To process fabric dyeing, RICY has a dyeing factory in the Tangerang area, Banten. The RICY garment factory is located in Citeureup, West Java with a capacity of 30 million pieces per year.