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Jakarta Post

Indofood CBP records positive profit trend in first half

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, July 28, 2017   /   11:53 am
Indofood CBP records positive profit trend in first half Indofood president director and CEO Anthoni Salim (tribunnews.com/File)

Publicly listed packaged food producer giant PT Indofood CBP Sukses Makmur ended the first half of 2017 by recording a Rp 2.09 trillion (US$156.8 million) net profit, an increase from Rp 1.98 trillion in net profit last year.

The company also recorded a 1.6 percent rise in consolidation net sales worth Rp 18.46 trillion. Instant noodles, dairy products and snacks dominated net sales, contributing 63 percent, 19 percent and 8 percent respectively.

"The competition is getting tighter, even though there was a decreasing trend in demand for fast-moving consumer goods (FMCG) during the first half," Indofood CBP president director and CEO Anthoni Salim said in a statement on Friday.

"Entering the second half, we will be more cautious. We will prioritize maintaining our [existing] customers," he said.

Even with the increasing competition, the company's performance during the first half of 2017 showed a positive trend, recording an increase not only in its operating profit, but also in its core earnings, which showed a year-on-year increase of 2.9 percent from Rp 2.05 trillion to Rp 2.11 trillion. (rdi/bbn)