Sido Muncul Optimistic Sales In 2023 Grow Up To 15 Percent

Photo: Doc. Sido Muncul

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) is optimistic that its performance will grow this year, along with a number of strategies implemented by the producers of Tolak Angin to strengthen business lines throughout 2023.

Citing an upload on the IDX Channel YouTube account, Thursday, July 6, it was stated that SIDO is eyeing sales growth in 2023 in the range of 10-15 percent. There is a short-term and long-term strategy carried out by the company to pursue this year's target.

For the short-term target, SIDO will continue to develop its business for its subsidiaries. In addition, SIDO will continue to make improvements to the distribution system and try to cut the distribution path to make it more efficient.

KukuBima Energy-G producer! this is releasing the latest application, namely My Sido, to make it easier for shops to order distributors, so that if the supply goods run out, they can quickly reorder.

As for increasing long-term sales, SIDO will continue to develop and prepare new products. At the end of last year, SIDO released a new spice product, namely Sido Spices, to be able to meet the needs of both direct consumers and the food industry and launch new C1000 Vitamin products ready to drink or ready to drink.

SIDO also continues to strive to strengthen export sales to foreign countries such as Nigeria, Malaysia and the Philippines by strengthening sales or product availability and adding new distributors.

For information, SIDO achieved an increase in sales of 3.04 percent to Rp907.30 billion in the first quarter of 2023. SIDO's sales at that time were dominated by the herbal medicine and supplement business segment of Rp553.26 billion, followed by the food and beverage business segment of Rp330.75 billion, and pharmaceuticals of Rp23.29 billion.

At the same time, net profit attributable to owners of SIDO's parent entity grew 1.77 percent to Rp300.27 billion from Rp295.03 billion in the same period 2022.