Industri Jamu Sido Muncul (SIDO IJ): Keeping healthy performance

Industri Jamu Sido Muncul (SIDO IJ)
BUY / TP: IDR:1,500 (+18.1%)
Analyst: Yap Swie Cu

Keeping healthy performance
• Sales growth dragged by sluggish herbal & supplement performance
• Strong performance from F&B segment
• Lower margin in 2Q20 due to change in product mix
• Outlook for 2020F
• We re-iterate BUY call with a maintained TP