Compared To The Second Quarter Period, Sido's Revenue And Profit Grows Significantly In The THIRD Quarter Of 2022

Photo: Doc. Sido Muncul

JAKARTA - PT Industri Jamu and Pharmacy Sido Muncul Tbk (SIDO) recorded a performance recovery in the third quarter from the previous quarter. The company managed to record a 37 percent increase in sales and an 83 percent increase in net profit in the third quarter compared to the second quarter of 2022. "We recorded a performance recovery in the 3rd quarter compared to the 2nd quarter as we expected," said Leonard, Director of SIDO, in a written statement, Wednesday, October 26. Cumulatively for the first nine months, SIDO still recorded a 6 percent decline in sales performance and a 17 percent drop in net profit, mainly due to normalization of demand for consumer health products from high bases in the third quarter of 2021, due to the spread of the Delta variant. "However, by looking at the performance improvement in the 3rd quarter, we are optimistic that demand for health products, especially herbs, will continue to grow. From a long-term perspective, SIDO's performance still reflects a very solid company with double-digit CARG (2019-2021), which is 14 percent on sales and 25 percent on net profit," added Leonard. Previously, SIDO innovated by launching a Ready To Drink product in the form of Alangsari Cool herbal drinks. "Sido Muncul officially entered the Ready to Drink (drinking ready to drink) industry by launching Alangsari Cool 300 ml," said Director of PT Sido Muncul Irwan Hidayat in a written statement, quoted Tuesday, October 25. Irwan said, after Alangsari enters the market, immediately following several Sido Muncul products that already have good brands on the market will also be produced in the form of Ready to Drinks such as Kuku Bima, Jahe Susu, Kopi and others. "We are entering the Ready to Drink industry as a development of new innovations, to fulfill the wishes of today's era market," he said. Furthermore, said Irwan, the Ready to Drink industry is a future industry, following the modern lifestyle of society, an extraordinary level of activity and increasingly diverse activities. Consumers no longer have much time to brew their own drinks, so that the drink Ready to Drink through the Killing machine is the right choice. "Now there are many beverage mining machines on the market. Consumers who want to buy just need to add money, then choose the type of drink they want. For the time being, Alangsari Cool products are still using plastic bottle packaging. But it is planned to immediately produce Alangsari Cool using canned packaging, as well as to support environmental sustainability," said Irwan. Alangsari Cool, he explained, contains alang-alang root juice, cincau leaves extract, and lime as a combination of herbs that have been trusted for a long time. "Alangsari Cool 300 ml is an herbal drink that can relieve internal heat, along with its symptoms, namely shariawan, dry throat, cracked lips and difficulty defecating," he said.