Sido Appears, This Reject Wind Manufacturer Owned By Irwan Hidayat Conglomerate Raises Sales Of IDR 1.65 Trillion In Semester I 2021

Conglomerate Irwan Hidayat. (Photo: Doc. Sido Appears)

JAKARTA - PT Sido Muncul's Herbal and Pharmaceutical Industry Tbk experienced growth in performance in the first six months of this year. The issuer with the stock code SIDO posted double-digit growth in terms of sales and net profit.

In SIDO's financial report published on the Indonesia Stock Exchange (IDX) website, quoted on Tuesday, July 27, the company owned by conglomerate Irwan Hidayat recorded an increase in sales of up to 13.36 percent year on year (yoy) to Rp1.65 trillion. In the same period the previous year, SIDO "only" scored sales of Rp1.46 trillion.

The sales segment for herbal medicines and supplements is still the largest contributor to 64.14 percent or equivalent to Rp. 1.06 trillion. This number also increased from the first semester of last year which was recorded at Rp923.2 billion. In other words, the herbal medicine and supplements segment experienced a growth of 14.98 percent yoy.

Meanwhile, the food and pharmaceutical segments contributed up to Rp526.24 billion. This achievement is also 12.17 percent better than the same period in 2020 which was recorded at Rp469.16 billion.

The pharmaceutical segment contributed the least, which was Rp. 67.10 billion. Its contribution also decreased slightly by 0.38 percent yoy from the first semester of 2020 which was recorded at IDR 67.35 billion.

The growth experienced in terms of sales helped increase the profit for the period attributable to owners of the parent entity by 21.32 percent yoy. SIDO's profit was recorded at Rp502 billion in the second quarter of this year, an increase from Rp413.79 billion in the same period last year.

The increase in profit for the period attributable to owners of the parent entity to double digits is also inseparable from the cost of goods sold which thinned 6.83 percent yoy to Rp724.72 billion.

In addition, there were other incomes which increased significantly to Rp. 13.44 billion from the previous Rp. 5.1 billion.

For your information, until the end of June 2021, Sido Muncul's total assets were recorded at Rp3.59 trillion. This number decreased by 6.71 percent compared to the end of 2020 which was recorded at Rp. 3.85 trillion.