Daily BriefsIndonesia

Daily Brief Indonesia: Cisarua Mountain Dairy and more

In today’s briefing:

  • Cisarua Mountain Dairy (CMRY IJ) – Catering to the Demand for Convenience


Cisarua Mountain Dairy (CMRY IJ) – Catering to the Demand for Convenience

By Angus Mackintosh

  • Cisarua Mountain Dairy booked a solid finish to FY2023, with FY2023 sales growth of +21.9% and net profit growth of +17.0% YoY, as it spent to grow new product sales.
  • Slower dairy was more than offset by the strong growth in premium consumer foods but dairy products are set to grow faster in 2024 through UHT milk and yoghurt sticks.
  • Consumer food growth momentum should be sustained by new product launches such as new products such Kanzler Crispy Nuggets Sticks. Valuations remain attractive relative to growth.

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