SIDO – Targets a 15% yoy growth in revenue and net profit

SIDO – Targets a 15% yoy growth in revenue and net profit Industri Jamu Dan Farmasi Sido Muncul (SIDO) targets a 15% yoy growth in 2024' revenue and net profit, mainly due to the positive trends for health products, such as; herbs and supplements. Moreover, SIDO continues to expand its distribution network, in order to maximize its sales by reaching more outlets and SIDO also collaborates with other companies that have national scale' networks, which could shortened the supply chain. At the same time, SIDO continues to export its products and its current export markets are Asia, Indo China, the Arabian Peninsula and Africa. Thus to support SIDO' strategy, the company has allocated around IDR102 bn for 2024' capex, which SIDO will be use it for maintenance, new production' equipments and laboratory research. Note that, SIDO' 9M23 sales and net profit declined to IDR2.36 tn (-9.7% yoy) and IDR586.57 bn (-18.58% yoy), respectively. (Source : Kontan)