Indonesia's food processing firm Indofood posts 11-pct profit growth in Q1

By：Xinhua Update：2017-05-02

Indonesia's largest food processing firm Indofood Sukses Makmur posted an 11-percent net profit growth to 1.2 trillion rupiah (about 89.9 million U.S. Dollars) in the first quarter this year, the firm said on Friday.

Indofood Chief Executive Officer Anthoni Salim said the CBP group contributed up to 50 percent to the firm's overall business during the first quarter this year, followed by flour with 21 percent, agribusiness 22 percent and distribution 7 percent.

In all of its business during the period, the publicly-listed firm codenamed INDF recorded growing net sales figures by 8 percent during the period to 17.83 trillion rupiah (about 1.3 billion U.S. dollars) from the corresponding period last year that stood at 16.52 trillion rupiah (about 1.2 billion U.S. dollars), he said.

The firm's subsidiary of Indofood CBP Sukses Makmur posted higher net profit growth than its parent firm with up to 1.09 trillion rupiah (about 81.7 million U.S. Dollars) in the period, or 15.6 percent higher than 944.8 billion rupiah (about 70.8 million U.S. dollars) recorded in the same period last year.

The significant achievement was highly contributed by the enormous sales in its instant noodle products division that reached 63 percent from overall sales in the subsidiary firm, Anthony added.

"It was followed by the sales in its dairy, snacks, seasoning, special food and nutrition products which each of them contributed 20, 8, 3, 2 and 4 percent," Anthoni said.