Jakarta - PT Inocycle Technology Group Tbk (INOV) has set a sales growth target of around 20% and a net profit of 25% by 2022.

"This year, the opportunity for the recycling industry and market potential has improved compared to previous years. This is because public awareness of using recycled products has begun to increase in line with the circular economy movement that the government continues to encourage," said INOV Director Victor Choi in a press broadcast on Friday (7/1).

He continued that the plan to increase sales this year is higher than last year's sales target set at 15%. As of September 2021, INOV sales have grown by around 22.8%, or Rp464.4 billion.

On Thursday (6/1), INOV held an EGMS and determined the composition of the new board of directors. The shareholders approved the appointment of Kwang Shin Kim as the new Director of INOV, replacing Yoon Chong Hyun.

"It is hoped that the presence of Kim as the new INO