Sido Muncul Optimistic Performance Growth Of 10 Percent This Year Can Be Achieved

Photo: Doc. Antara

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) has set a 10 percent sales growth target in 2024. Several strategies are being prepared by this Tolak Angin producer.

Finance Director of PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) Budiyanto said SIDO remains optimistic about this achievement, although he also admits to being aware of uncertain global conditions in managing business risks.

"SIDO remains optimistic and committed to achieving the target of top line sales growth and bottom line net profit of at least above 10 percent," he said, during the Public Expose Live 2024, Wednesday, August 28.

Budiyanto explained that there are several strategies and forms of initiatives launched in the domestic market, namely improving the quality of distribution, penetration of new products, and strengthening social media. As for the international market, SIDO will continue to strengthen awareness and distribution of products, especially in several countries of focus, and expand the market to new countries.

"Among other things, there is a target for the first export to Vietnam in the second semester of 2024. In addition, it also introduces new products to the export market, including those that we will launch in Malaysia and the Philippines," he said.

In addition, he said that also related to load management, SIDO will always monitor the effectiveness of advertising and promotional spending, as well as increase employee productivity and reduce fixed burden ratios. He also explained that in a business there is certainly also competition.

What SIDO does, especially in consumer goods, is the first, always strengthens brand awareness.

"So we must always remember and the second must always be available. If people remember, it is not available, it will move. People are already available and they don't remember, they will move. So we will always penetrate those two things," he said.

He further said that SIDO has a proven formulation and is also scientifically proven for Tolak Angin products. According to him, it is one of the transparencys made by SIDO to make products more trusted and loved by the Indonesian people. He said that currently SIDO is the market leader for herbal markets.

"So we are a prime mover and of course we have strategies and steps to remain a prime mover and market leader in this herbal industry. So with some of these strategies, we hope that we can continue to lead the market for this herbal market," he said.