JAKARTA – The net profit of PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) grew 36% year-on-year (yoy) to IDR 608.49 billion in the first half of 2024 from IDR 448.10 billion seen in H1 2023. This profit growth was driven by revenue increase, as well as efficiency on general and administrative expenses.

Financial Report of H1 2024 quoted today (29/7) mentioned how SIDO’s sales were seen increasing 14.70% yoy to IDR 1.89 trillion from IDR 1.65 trillion. Its gross profit then shifted 25.76% yoy to IDR 1.10 trillion from IDR 877.54 billion.

Meanwhile, operating profit of this Indeks52 constituent also increased 35% yoy to IDR 759.40 billion from IDR 562.86 billion. This shift occurred following efficiency of general and administrative expenses, as well as other expenses. Its current year’s net profit also showed improvement to IDR 608.49 billion from IDR 448.10 billion.

Herbal medicine and supplements brought in sales of IDR 1.11 trillion from IDR  1 trillion, followed with foods and beverages sales of IDR 716.70 billion, which also increased from IDR 595.19 billion, as well as pharmaceutical products that shifted from IDR 55.15 billion to IDR 66.19 billion.

For the record, SIDO is still listed as a constituent of Indeks52, following an annual evaluation by Indeks52 Committee. The appreciation towards issuers listed as its constituents was given in an awarding night in Balikpapan, East Kalimantan, last Friday (26/7). (LK/ZH)