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Indofood CBP posts net sales growth in first quarter
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Indofood president director Anthoni Salim (tribunnews.com/File)
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rocessed food giant Indofood CBP Sukses Makmur (ICBP) booked a consolidated net sales growth of 4.5 percent in the first quarter of this year, an increase to Rp 9.88 trillion (US$702.9 million) from Rp 9.46 trillion in the same period of 2017.
The ICBP noodles division, known for its Indomie brand, was the top contributor to the publicly listed company’s net sales with around 65 percent in sales, followed by the dairy division with 19 percent, snack foods with 7 percent, special foods and beverages with 4 percent, food seasonings with 3 percent and nutrition with 2 percent.
ICBP president director and CEO Anthoni Salim said the group was pleased with the first quarter results despite lukewarm demand for fast-moving consumer goods products.
“We remain optimistic that market conditions will improve over the next few quarters to deliver sustainable growth,” he said in a statement recently.
Read also: Indofood CBP records positive profit trend in first half
The company booked a 13.1 percent increase to Rp 1.72 trillion in income from operations, from Rp 1.52 trillion seen in the same period of 2017. Its operating margin expanded to 17.4 percent from 16 percent.
Meanwhile, its core earnings increased by 8 percent in the first quarter of 2018 from Rp 1.11 trillion recorded in the corresponding period last year. (gda)
