In today’s briefing:
- Cisarua Mountain Dairy (CMRY IJ) – Standing Out from the Herd
Cisarua Mountain Dairy (CMRY IJ) – Standing Out from the Herd
- Cisarua Mountain Dairy (CMRY IJ) stands out from the overall FMCG space in Indonesia, with 21% revenue growth versus a flat to negative performance for the overall market.
- The company’s growth in 3Q2023 was predominantly driven by premium consumer foods at +46% YoY but dairy was also positive, with the company increasing promotional spending but maintaining margins.
- The outlook for 4Q2023 looks promising driven by increased distribution outlets, especially general trade plus the launch of new products for both consumer food and dairy.
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