SIDO – To push sales in the remaining months of 2023

SIDO – To push sales in the remaining months of 2023 SIDO is focusing on reviving its sales in the remaining months of 2023. In 9M23, SIDO net sales declined by 9.7% yoy (IDR2.36 tn) and a 9.41% yoy decrease in gross profit (IDR1.26 tn). As a result, SIDO' 9M23 net profit declined by 18.58% yoy (IDR586.57 bn). All business segments faced sales declines: herbal (-12.1% yoy), food/beverage (-2.6% yoy), and pharmaceutical (-25.6% yoy). SIDO aimed at sales recovery amidst weak consumer purchasing power, while also monitoring costs and foreign exchange impact to stabilize margins. They've spent IDR47 bn of their IDR 200 bn capex in 9M23. (Source: Kontan)