MARK – Aims to expand into India and Sri Lanka

Mark dynamics Indonesia (MARK) as a glove manufacturer managed to close the year 2022 with a net profit of IDR243 bn. This figure decreased 38% yoy from the previous year which reached IDR329 bn. In line with that, the company's revenue also shrank 31% yoy from IDR1.19 tn to IDR824 bn. Sales were driven by the export segment of IDR643 bn and local market contributed IDR180.06 bn. The company's export sales were mostly made to Malaysia, amounting to 55% of total export sales. The rest is followed by Thailand, Vietnam, China, and USA. As a future growth strategy, MARK plans to expand distribution to bar countries such as India and Sri Lanka. FY22 MARK recorded assets of IDR1tn with IDR162 bn in debt and IDR844 bn in equity. (Source : Kontan)