Sido Muncul To Prepare Capital Expenditure Of IDR 210 Billion This Year, For What?

Illustration. (Photo: Doc. Sido Appears)

JAKARTA - In 2022, PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) has prepared a capital expenditure (capex) budget of IDR 210 billion.

SIDO Finance Director Leonard revealed that the company's IDR 210 billion capital expenditure budget is planned to be used, one of which is to continue several ongoing projects.

"Capex of Rp 210 billion for maintenance and work on several ongoing projects, such as greenhouse bioethanol and others," said Leonard at the 2022 MNC Group Investor Forum, which was held virtually, Monday, March 14.

In addition, Leonard continued, Sido Muncul targets sales and net profit this year to grow 15 percent. Meanwhile, in 2021, SIDO posted sales of IDR 1.24 trillion and a net profit of IDR 395 billion.

Leonard explained, to achieve this year's target, the company will increase domestic distribution and develop new products. Not only that, but Sido Muncul will also export to new destination countries.