In today’s briefing:
- Cisarua Mountain Dairy (CMRY IJ) – General Trade to Drive 2023 Growth
Cisarua Mountain Dairy (CMRY IJ) – General Trade to Drive 2023 Growth
- Cisarua Mountain Dairy booked a solid +25% YoY growth in sales in 1Q2023, with a flat performance from dairy from a high base but very strong consumer foods growth.
- Powdered milk prices and packaging costs have started to decline which will help to boost margins as the year progresses since Cisarua Mountain Dairy bought forward last year.
- Cisarua Mountain Dairy is an increasingly interesting consumer proxy catering to Indonesia’s middle classes but increasingly focusing on the less affluent mass market as it grows distribution in general trade.
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