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Sidomuncul targets export contribution climbs to 5%

23 February 2021 07:32

JAKARTA. PT Industri Jamu dan Farmasi Sido Muncul Tbk will increase the contribution of export revenue by around 4%-5% following the recovery of shipments to major export destination countries after the lockdown easing.

Sido Muncul Finance Director Leonard explained that in the fourth quarter of 2020, shipments to main export destination countries had recovered after the lockdown easing. For this reason, his party is targeting an increase in export revenue, from its contribution of 2.5% to 4%-5%. "We see the potential for a recovery in export sales," Leonard said as quoted by Bisnis, Monday (22/2/2021).

Leonard further revealed that the company's product exports to Malaysia in the second semester of 2020 had returned to the level before the pandemic. Likewise, shipments to the Philippines and Nigeria have recovered in the fourth quarter of 2020.

SIDO's main export destination countries are Malaysia, the Philippines, Nigeria, as well as several countries in the Asia Pacific, Africa and Middle East regions. According to Leonard, Asean countries could be the next potential export market, as well as several countries in Africa and the Middle East. (AM/LM)

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