JAKARTA. PT Wismilak Inti Makmur Tbk (WIIM) posted net sales of IDR 2.38 trillion in the first half (1H) of 2023, growing 46.37% year-on-year (yoy) or from the same semester last year.

With this sales performance, WIIM recorded a net profit of IDR 246.88 billion in 1H 2023. The company's net profit in 1H 2023 increased more than 2 times, from IDR 82.16 billion in 1H 2022.

In a previous idnfinancials.com report, WIIM's competitor cigarette manufacturer, PT Hanjaya Mandala Sampoerna Tbk (HMSP), had also reported its sales performance in 1H 2023. In general, HMSP's net sales grew positively by 4.93% yoy.

However, sales volume of HMSP cigarettes fell 4.1% yoy to 40.5 billion sticks. Meanwhile, the sales volume of cigarettes owned by Philip Morris has reached 42.3 billion sticks.

In its official report, Philip Morris stated that the decline in cigarette sales volume was in line with the performance of the domestic industry. In 1H 2023, domestic cigarette sales experienced a slowdown of 5.6% yoy. (KR/LM)