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Indofood revenue grows in Q3 2017
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Indofood president director and CEO Anthoni Salim said the growth was due to strong performance in agribusiness. (tribunnews.com/File)
R
evenue of Salim Group consumer goods company PT Indofood Sukses Makmur grew by 6.52 percent year-on-year (yoy) to Rp 53.12 trillion (US$3.91 million) in the third quarter of this year.
That is higher than last year’s revenue growth, which was recorded at 4.86 percent yoy in the same period.
PT Indofood Sukses Makmur president director Anthoni Salim said on Tuesday that the growth was pushed by strong performance in agribusiness amid sluggish sales in consumer products.
"The market condition has not improved significantly in the third quarter. Demand for fast-moving consumer goods remains subdued while the competition is tougher. Despite these factors, we were able to grow," he said in a press statement.
Read also: Indofood to continue expanding despite sluggish economic growth
The revenue from the agribusiness division, including palm oil plantations PT Salim Ivomas Pratama and PT PP London Sumatra Indonesia, increased by 25.31 percent yoy, while Indofood CBP's revenue grew by only 2.42 percent yoy.
The revenue from other divisions, namely flour mill Bogasari and distribution businesses grew by 1.89 percent and 6.52 percent, respectively.
Indofood's net income increased by 1.23 percent yoy to Rp 3.28 trillion, but its net margin declined to 6.2 percent from 6.5 percent due to the discontinuation of some operations. (bbn)
