Sido Muncul's Profits Soar 35% in the First Half of 2024
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PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) reported positive performance in the first half of 2024, with a net profit of Rp608.49 billion. This figure is up 35.79% year-on-year (yoy).
This profit increase was driven by SIDO's sales, which rose 14.67% to Rp1.89 trillion in the first half of the year.
Positive growth occurred across all of SIDO's business segments. Sales in the herbal jamu and supplements segment increased by 10.97% to Rp1.11 billion.
Food and beverage sales rose 20.41% (yoy) to Rp716.7 billion, and the pharmaceutical segment grew by 20% (yoy) to Rp66.18 billion.
Despite the increase in revenue and profit, Sido Muncul's cost of goods sold also increased by 2.14% (yoy) to Rp792.88 billion.
In detail, sales and marketing expenses in the first half of 2024 reached Rp259.60 billion, general and administrative expenses were Rp92.09 billion, and other expenses were Rp18.5 billion.
As of the end of June 2024, SIDO's total assets were recorded at Rp3.82 trillion, down slightly by 1.73% from the end of December 2023.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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