HMSP – Profit declined 11.5% yoy in 1H24

HMSP – Profit declined 11.5% yoy in 1H24 HM Sampoerna (HMSP) posted sales of IDR57.81 tn (+2.96% yoy), but recorded an 11.5% yoy net profit decline at IDR3.31 tn (-11.5% yoy) in 1H24. The sales were supported by local third-party sales consisting : a clove cigarettes worth IDR33.88 tn, SKT clove cigarettes worth IDR18.39 tn, SKT white cigarettes worth IDR3.65 tn and SKM white cigarettes worth IDR430.11 bn. The decline in net profit was due to a 1.5% decline in its market share to 17.3% with 4.72% yoy higher COGS (IDR49.12 tn) in 1H24 (Source: Bisnis Indonesia)