Sierad Produce eyes 20% growth

May 16, 2019

Indonesia’s Sierad Produce targets to record a 20% business growth this year. The company booked a net profit of USD 900,000 in Q1 2019, compared to a loss of USD 557,000 in the same period of last year. Its sales, meanwhile, grew by 37% to USD 64.6 million. The company will allocate USD 7 million for capital expenditure to finance its business expansion. It will increase sales & marketing expenses, add to its sales team, strengthen the brand image of its Belfoods processed chicken products, partner with more broiler farmers, and improve its supply chain.