Sido Muncul To Hold AGMS On April 3, 2024

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

JAKARTA - PT Industri Jamu Dan Pharmacy Sido Muncul Tbk (SIDO) announced the implementation of the annual general meeting of shareholders (AGMS) which will be held on April 3, 2024.

"We hereby notify the company's shareholders that the company will hold an annual general meeting of shareholders on Wednesday, April 3, 2024 in Semarang," said Sido Muncul (SIDO) management in the AGMS announcement, quoted Wednesday, February 28.

SIDO management continued, the meeting summons will be announced through eASY.KSEI, the website of the Indonesia Stock Exchange (IDX) and the company's website (www.sidomuncul.co.id) on March 8, 2024.

Shareholders who are entitled to attend or be represented in meetings are shareholders whose names are recorded in the list of shareholders of the company and/or owner of the company's share balance in the securities sub-account in the collective deposit of PT Kustodian Sentral Efek Indonesia (KSEI) at the close of the company's share trading on the IDX on March 7, 2024 until 16.00 WIB.

For information, Sido Muncul (SIDO) himself posted a profit for the current year of IDR 950.64 billion in 2023, shrinking compared to 2022 which amounted to IDR 1.1 trillion.

However, as stated in Stockbit's review, 2023's net profit exceeded (108 percent) consensus expectations. This result was supported by strong performance in the fourth quarter of 2023, with a net profit of IDR 364 billion (+162.9 percent qoq, -5.3 percent yoy).

SIDO's performance in the fourth quarter of 23, itself was driven by revenue recovery which reached IDR 1.2 trillion (+70 percent qoq, -3.8 percent yoy).

Margin also recovered significantly on a quarterly basis thanks to the increase in cost of goods sold (+43.1 percent qoq) and operating expenses (+8.7 percent qoq) which were much more moderate than revenue.