Indofood first-quarter earnings increase

by World Grain Staff
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JAKARTA, INDONESIA — PT Indofood Sukses Makmur Tbk announced on April 29 that income from operations for the first quarter ended March 31 increased 7.4% to Rp1.88 trillion ($140.8 million) from Rp1.75 trillion in the same period last year. 

Consolidated net sales increased 10% to Rp16.52 trillion from Rp15.02 trillion. The Bogasari segment, which produces wheat flour and pasta, reported sales of Rp4.9 trillion, roughly 24% of the company’s total sales.

The EBIT margin for the segment was up to 9.2% from 7.4% in the same period a year earlier. The segment accounted for 24% of the total EBIT.

The operating margin slightly declined to 11.4%. Income for the period attributable to the equity holders of the parent entity increased 24.8% to Rp1.09 trillion from Rp870.1 billion and net margin improved to 6.6% from 5.8%. Core profit declined 3.1% to Rp1.02 trillion from Rp1.05 trillion.

“We are pleased to have started the year with positive performance despite the impact of weak commodity prices,” said Anthoni Salim, the president director and chief executive officer of Indofood. “We will continue to capitalize on the strength of our business model to face challenges and capture opportunities in 2016 to pursue sustainable growth.”
 
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