JAKARTA. PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO), a pharmaceutical and herbal product manufacturer, booked net profit of IDR 950.64 billion in 2023, down 13.95% year-on-year (yoy).

The net profit decline went hand-in-hand with slippage in SIDO’s sales, only reaching IDR 3.56 trillion in 2023. Meanwhile, in 2022, the company still managed to score 7.75% yoy growth in sales to IDR 3.86 trillion.

The most extensive contribution in SIDO’s sales come from herbal medicine products and supplements with sales amounting to IDR 2.35 trillion. Food and beverages generated sales of IDR 1.1 trillion, while pharmaceutical products turned in IDR 115.96 billion.

For the record, herbal medicine and supplement sales of SIDO saw 10.8% yoy decrease. The food and beverages sales reportedly crawled up 1.19% yoy, while pharmaceutical products reported 19% yoy decline.

According to IDNFinancials data, SIDO booked total assets of IDR 3.89 trillion at the end of 2023. Meanwhile, total equity was recorded at IDR 3.38 trillion. (KR/ZH)