SIDO – Targeting revenue growth around 10-15% yoy in 2024

SIDO – Targeting revenue growth around 10-15% yoy in 2024 Industri Jamu dan Farmasi Sido Muncul (SIDO) is optimistic that the company can achieve the revenue growth target of 10-15% yoy this year by increasing sales in the domestic and export markets, adding new products and variants and expanding sales areas. SIDO will also make efficiency in terms of production and distribution by cooperating with companies that have a national distribution network. For export markets, SIDO will expand markets in Asia, Indo China, the Middle East and Africa. SIDO plans to add professionals who are expected to execute the strategy. SIDO allocates IDR102 bn capex this year which will be used for the addition of laboratory materials and equipment, R&D development and maintenance of other equipment. Note that, SIDO posted revenue of IDR3.65 tn (-7.75% yoy) and net profit of IDR950.64 bn (-13.95% yoy) in 2023. (Source : Kontan)