MARK - Diversification to sanitary business

MARK - Diversification to sanitary business Mark Dynamics Indonesia (MARK) plans to optimize the sales of glove and sanitary business in 2023. The outlook of the glove prints market is still optimistic although will not be as large as it was during the Covid-19 pandemic. To strengthen its financial performance, MARK has diversified its business into the sanitary sector since 2020 through the acquisition of Berjaya Dynamics Indonesia. After the acquisition, MARK increased the production capacity of squat toilets to 30,000 pcs per month. In 1H23, MARK sales declined 58.19% yoy at IDR262.61 bn and net profit declined 68.57% yoy at IDR64.47 bn in 1H23. Albeit with the decline in its performance, MARK still expects the glove business' net profit margin to be above 20%. (Source : Kontan)