Sido Muncul’s Net Profit IDR123Bn in 2Q18

Sido Muncul, Tbk (SIDO:IJ) recorded IDR123Bn in 2Q18 net profit (-27% QoQ, 4% YoY), bringing up its 1H18 net profit to IDR292Bn (+19% YoY), accounting for 49% for FY18 consensus. This is slightly ahead of expectation because its 1H17 net profit only accounting for 46% of its 1H17 figure. Revenue in 2Q18 was recorded at IDR653Bn (+5% QoQ, +8% YoY) that brings up its 1H18 revenue to IDR1,274Bn (+5% YoY), accounting for 47% of FY18 consensus. EBIT margin stood at 23% in 2Q18, vs 33% in 1Q18 and 23% in 2Q17.

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