SIDO – Aims for 10% - 15% growth in 2023 sales

Industri Jamu dan Farmasi Sido Muncu (SIDO) is determined to continue its positive financial performance after the first quarter of 2023. SIDO achieved a 3.04% yoy increase in sales to IDR907.30 bn in 1Q23. SIDO's sales were dominated by herbal medicine and supplement business segment at IDR553.26 bn, followed by food and beverage business segment at IDR330.75 bn, and pharmaceuticals at IDR23.29 bn. At the same time, SIDO's net profit grew 1.78% yoy to IDR300.28 bn. SIDO for 2023 is targeting sales growth that tends to be conservative this year, in the range of 10% yoy - 15% yoy. (source : Kontan)