This Is Sido's Strategy To Achieve Performance Growth In The Remaining Year 2023

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) projects that its performance will continue to grow in the second half of 2023. Several strategies were also prepared by the management of the producer of Tolak Angin and Kuku Bima Energy-G.

President Director of Sido Muncul David Hidayat, as quoted from several sources, said that his party has three pillars of business growth in 2023. This consists of export sales, B2B business development from a subsidiary, namely PT Semarang Herbal Indoplant (SHI), and equitable distribution of products.

"One of the factors driving the increase in SIDO sales in the first half is equitable distribution, especially for old products. It is hoped that the next new product sales or new variations such as Alangsari Cool, and various new variants of supplements will contribute to growth," explained David, quoted Monday, July 31.

Furthermore, David said, in order to maintain consistent growth, the addition of new products routinely continues to be carried out by Sido Muncul. David said the company had released two new products during 2023, namely the medicine of maag tablets and Herbal Supplements.

Sido Muncul also continues to strive to develop B2B sales through PT SHI. To support the company's strategy, SIDO has prepared a capital expenditure (Capex) allocation of IDR 197 billion this year, and the realization of capex has not yet reached 40 percent as of June 2023.

The capex video, said David, was used to purchase production equipment, laboratory equipment/R&D and completion of the green house project. With the construction of a green house, according to David, it will be able to support price stability and supply of SIDO herbal raw materials in the future.

For information, SIDO sales rose slightly by 2.58 percent year on year (YoY) to Rp1.65 trillion during the first semester of 2023. In the same period in 2022, sales figures were recorded at Rp1.61 trillion.

Until the end of June 2023, SIDO's net profit had slightly increased to Rp448.10 billion. Previously, the profit for the period attributable to owners of the SIDO parent entity was recorded at Rp445.59 billion.