JAKARTA. PT Kurniamitra Duta Sentosa Tbk (KMDS) booked net profit of IDR 51.23 billion throughout 2023, increasing 6.95% year-on-year (yoy) due to Indonesia’s recovering economy post-COVID-19 pandemic.

This profit growth is in line with KMDS’s sales, hitting IDR 338.29 billion in 2023, up 6.51% yoy. In the year before, its sales only clocked up to IDR 317.61 billion.

“Consumption level in food and beverage industry continues to rise,” said the management of KMDS in the official statement.

According to the data compiled by IDNFinancials, Monin syrup was still the main component of KMDS’s total revenue in 2023, with sales reaching IDR 172.19 billion. Sales from La Kaffa coffee were recorded at IDR 62.55 billion, followed by other products of IDR 103.55 billion.

Based on the region, the company’s sales in Java contributed IDR 246.67 billion, while sales outside Java reached IDR 91.62 billion.

In order to maintain the momentum of business growth this year, KMDS has set up several strategies. Some of them include initiating other product diversification to be sold according to the market trend, opening a new showroom, as well as inviting principles to establish a food and beverage production facility in Indonesia. (KR/ZH)