JAKARTA. PT Hanjaya Mandala Sampoerna Tbk (HMSP), one of the biggest cigarette manufacturers in Indonesia under Philip Morris, booked net profit of IDR 3.75 trillion in the first half (H1) of 2023.

HMSP’s net profit in H1 2023 reportedly increased 23% year-on-year (yoy). In the same period last year, the net profit was stuck at IDR 3.05 trillion.

HMSP’s profit growth was driven by its sales that clocked up to IDR 56.15 trillion in H1 2023. The net sales in this period were seen increasing 4.93% yoy.

In terms of the segments of its products, most of the net sales of HMSP came from machine-rolled kretek cigarettes, scoring IDR 35.34 trillion of sales. Then, hand-rolled kretek cigarettes brought in IDR 15.39 trillion of sales, followed by machine-rolled white cigarettes of IDR 4.11 trillion, hand-rolled white cigarettes of IDR 496 billion, and other products of IDR 587 billion.

Although its net sales shifted positively, the volume of cigarette sales of HMSP in H1 2023 dropped 4.1% yoy to 40.5 billion sticks. In the same period last year, the volume of cigarette sales hit over 42.3 billion sticks.

As mentioned in the report exclusively released by IDNFinancials, HMSP’s cigarettes sales volume in H1 2023 is in accordance with the performance of cigarettes sales in Indonesia that slowed down 5.6% yoy. (KR/ZH)