JAKARTA - PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) will raise approximately 10% of its wholesalers and retailers, especially outside Java to boost sales. As of now, this herbal medicine manufacturer managed 150,000 wholesalers.

Leonard, Chief Financial Officer (CFO) of SIDO, said that the company will extend its distribution network line. “Last year, there were 150,000 wholesalers. So, there may be a 10% increase in wholesalers to reinforce distribution line,” he said during the exclusive talk with IDNFinancials yesterday (9/8).

Other than quantity improvement of its wholesalers and retailers, this issuer tries to improvise in the utilisation of wholesalers and retailers across the region.

Furthermore, Leonard also mentioned the plan to add two more distributors in Nigeria and Philippines, which have coverage three times the size of the current existing distributors in said countries. “Cross border, there will be two additional distributors. In domestic scope, the distributor will remain unchanged but there will be extra wholesaler and retailers that are closer to end-customers. That is our higher priority,” he said.

As of now, the number of SIDO’s distributor in Indonesia reaches approximately 120 major distributors. The strongest marketing is in Java area. “However, in regard to (sales) growth, it is visible outside Java Island,” Leonard explained.

Based on H1 2023 report, SIDO scored sales of IDR 1.65 trillion, shifting from IDR 1.61 trillion seen in the same period in 2022. Within the past six years, since 2018, the sales growth of this company has been consistently growing. The herbal medicine and supplement contributed IDR 1 trillion to the sales, followed by food and beverages of IDR 595.19 billion and pharmaceutical products of IDR 55.15 billion.

Then, SIDO gained profit of ID 448.10 billion, slightly climbing from IDR 445.59 billion seen in the same period in 2022. The profit of SIDO has also been consistently increasing within the past six years since 2018. (LK/ZH)