JAKARTA - PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) managed to post a net profit hike of 28% year on year (yoy) to Rp 374 billion in the first half of 2019. Throughout the period, the company’s sales also grew 11% yoy to Rp 1.41 trillion.
“We recorded an increase in sales volume with higher prices in the second quarter for the food and beverage segment. In addition, we’ve been carrying out several efficiency programmes in 2019,” said Sido Muncul CFO Leonard at a press conference at the IDX Building, Wednesday (21/8).
For this year, Sido Muncul has budgeted capital expenditure of Rp 150 billion. Throughout 1H, Rp 77 billion of the capex had been absorbed for maintenance needs.
“For 2019, our Rp 150 billion capex is mainly used as maintenance capex, as well as for unfinished projects from 2018,” Mr Leonard asserted. (MS)