KLBF - Still targets a double digit net profit growth this year

KLBF - Still targets a double digit net profit growth this year Kalbe Farma (KLBF) still targets a double digit net profit growth this year, despite stronger USD, currently. Note that, 70% of KLBF' raw materials are imported. KLBF still expects its revenue and net profit to grow by around 6-7% yoy and 13-15% yoy, respectively in 2024. In order to achieve its targets amidst stronger USD, KLBF has set up several strategy, such as; products' development based on local/herbal raw materials, optimizing its supply chain strategy and increasing its USD reserves. In 1Q24, KLBF' revenue and net profit grew by 6.3% yoy and 11.9% yoy, respectively. (Source : Kontan)