Sido Muncul Earns IDR 448.10 Billion Net Profit In Semester I 2023

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

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) posted an increase in profit and sales throughout the first semester of 2023.

In SIDO's financial report, quoted on Thursday, July 27, it was stated that during January-June 2023, profit for the year attributable to owners of the parent entity reached IDR 448.10 billion, an increase of 0.56 percent on an annual basis compared to IDR 445.59 billion in the first semester of 2022.

The increase in net profit was supported by cumulative sales growth during the first semester of 2023. During this period, net sales increased by 2.59 percent year-on-year (YoY) from IDR 1.61 trillion to IDR 1.65 trillion.

The herbal herbal medicine and supplement segment as the main contributor contributed Rp1.0 trillion, while the food and beverage segment was Rp595.19 billion. The pharmaceutical segment contributed Rp55.15 billion or decreased from the first semester of 2022 which had touched Rp78.54 billion.

Until the end of June 2023, SIDO's total liabilities amounted to Rp300.39 billion, down 47.85 percent compared to the position at the end of December 2022 of Rp575.96 billion.

Meanwhile, SIDO's total assets fell from IDR 4.08 trillion at the end of 2022 to IDR 3.56 trillion as of June 30, 2023. The decline was mainly due to a decrease in current assets in the form of cash and cash equivalents from IDR 923.04 billion to IDR 452.21 billion.

Then, SIDO's equity was recorded at IDR 3.22 trillion, down from IDR 3.50 trillion at the end of 2022.