Why Sido's Exports Appeared To Soar 38 Percent In The Third Quarter Of 2021, This Bima Repellent And Nail Manufacturers Revealed The Secret

JAKARTA - PT Sido Muncul Herbal and Pharmaceutical Industry Tbk (SIDO) scored a 38 percent export growth performance this year until September 2021. Although still in a pandemic situation, the herbal and health supplement producers were able to improve performance through several strategies.

Director of the Sido Muncul Herbal and Pharmaceutical Industry, David Hidayat, explained that the export strategy until the third quarter of 2021 is to develop distribution in focus countries such as Nigeria, Malaysia and the Philippines.

"The company is also focused on developing new countries, especially around Asia for market penetration in the coming year," said David, quoted from Bisnis.com. Monday 11 October.

David further said that this export performance growth will continue to be maintained until the fourth quarter of 2021. A subsidiary of Sido Muncul, David acknowledged, has also received an order contract that needs to be delivered by the end of the year.

"Our subsidiary, Semarang Herbal Indoplant, has pocketed orders that must be sent by the end of this year. So the total addition is around 3.5 million US dollars compared to 2020," he explained.

Previously, Sido Muncul Finance Director Leonard stated that in terms of export sales, this year the company is still maintaining its recovery momentum and making Nigeria and Malaysia the main contributors. Leonard said that instead of expanding to other countries, the company chose to stay focused on the two countries.

For information, Sido Muncul consistently scored double-digit net profit growth until the first half of 2021. This slick financial performance was driven by sales performance which grew by 13 percent to Rp1.65 trillion from the same period the previous year of Rp1.5 trillion.

The increase in sales in the second quarter of 2021 was due to the high demand for Tolak Angin products during Ramadan, as well as supplement and vitamin products during the 2nd spike in COVID-19 cases in Indonesia.

The increase in net sales plus solid management fees boosted net profit after tax growth by 21 percent or to Rp502.00 billion in the first half of this year compared to last year's Rp413.79 billion.