Sido Muncul (SIDO IJ) - 1Q24 Earnings Beat on Solid Volume and Margins
On the back of solid 1Q24 revenue (driven mostly by volume) and higher margins, SIDO booked brisk 1Q24 net profit growth of 30% yoy.
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Sido Muncul (SIDO IJ) - 4Q23 Earnings Beat and Rosy Outlook, but Already Priced In
SIDO guided for >10% yoy top and bottom line growth in FY24, expected to be supported by exports, new products & higher outlet...
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Sido Muncul (SIDO.IJ) - A Steadier Growth Prospect in FY24
Following SIDO’s sluggish sales volume in 9M23, we lowered our FY23/ FY24F net profit estimate by -13.5%/ -12.4%. Nonetheless, we think the worst...
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SIDO MUNCUL (SIDO IJ) - Downgrade on Sluggish Performance
SIDO MUNCUL(SIDO IJ)Downgrade on sluggish performanceWeak purchasing power at the grassroots level has restricted SIDO’s sales volume growth this year
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Consumer: Room for Growth Is Still in Store (OVERWEIGHT)
We maintain our sector OW rating and expect ICBP (TP Rp13,000) and MYOR (TP Rp3,500) to fare better under a soft recovery scenario.
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