Sido Muncul Will Expand Export Market, Expand Other Products To Be Sold Overseas Apart From Tolak Angin And Kuku Bima

Director of Sido Muncul, Irwan Hidayat. (Photo: Doc. Sido Appears)

JAKARTA - PT Sido Muncul Herbal Medicine and Pharmaceutical Industry Tbk (SIDO) said export sales in the third quarter of 2021 experienced a spike of up to 39 percent. The management of Sido Muncul will also continue to strengthen sales through the several pillars they have.

Sido Muncul President Director David Hidayat said, the first pillar of course is to further strengthen the export share. He believes the strengthening of the export market will continue until the end of 2021.

"Exports grew 39 percent, currently its contribution to total sales is still less than 5 percent, but we will continue to expand the export market," said David some time ago.

This export market expansion, said David, is both in terms of destination countries and the products sent. So, he said, the focus of exported products is not only to Tolak Angin and Kuku Bima Energy.

Regarding export destination countries, we are currently focusing on expanding our export market to West African countries (ECOWAS), Saudi Arabia and Indochina," he explained.

The next pillar, according to David, is the realization of product sales at the factory owned by its subsidiary PT Semarang Herbal Indoplant (SHI). Citing the company's official website, SHI is a raw material extraction plant to increase production capacity.

SHI can shorten the production chain, improve efficiency and standardize raw materials. In addition, SHI is also able to accommodate the harvest of the spice farmers.

For information, based on financial reports as of September 2021, Sido Muncul was recorded to have recorded sales of Rp.2.77 trillion. That number grew by 23 percent compared to sales in the third quarter of 2020 which was valued at Rp. 2.25 trillion.

In the third quarter of 2021, the company was able to record growth in the profit for the current period attributable to owners of the parent entity of up to 35.06 percent, from the previous Rp640.80 billion to Rp865.49 billion.