JAKARTA. The decline in sales and marketing expenses of PT Industri Jamu dan Farmasi Sido Muncul Tbk (SIDO) in the third quarter of 2020 enabled the company to increase its net profit by 10.78%.
SIDO's positive performance was proven by an increase in sales (6.1%) to Rp2.26 trillion. Sales of herbal medicine and supplements were the main contributor to the company's sales (Rp1.44 trillion).
The company succeeded in reducing sales and marketing expenses to Rp305.34 billion. In addition, the company's net income tax also declined to Rp181.97 billion.
As a result of this decline, the company succeeded in achieving profit attributable to owners of the parent entity of Rp640.81 billion. (AM/AR)