PT Kino Indonesia Tbk (KINO) is exploring the addition of new business activities to optimize potential and improve performance and profitability.

The plan is for Kino to carry out 14 new business activities, starting from the fresh milk and cream processing industry, pharmaceutical products for animals, to the children's toy industry.

Director of Kino Budi Muljono said that the potential and business opportunities in this segment and the need for pets are still huge. Therefore, with the addition of these business segments, the company can develop further and spread various innovations to all segments.

"The company realizes that if operationally it can unify these segments, then performance can be better monitored and resources will be more focused on the company. This method is expected to help the company achieve maximum productivity in the food segment, " Budi said in his publication to the Stock Exchange, Thursday (22/4).

With the addition of business activities, the company's operating profit will increase between 0.05-0.48% or around Rp608.19 billion, and net profit will grow around 0.05-0.57% or become Rp359.10 billion this year.

In 2022, it projects operating profit to reach Rp834.06 billion and Rp551.05 billion net profit.

To realize this corporate action, the company will hold an Extraordinary General Meeting of Shareholders on May 28, 2021.

The company has indirectly started its business in the food segment through its business entity, namely PT Kino Food Indonesia. Operations are separate from the company, even though the financial statements are consolidated.