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Indofood CBP net profit grows 9.57 percent in Q2
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Indofood president director Anthoni Salim (tribunnews.com/File)
P
rocessed food giant PT Indofood CBP Sukses Makmur (ICBP) on Tuesday recorded net profit growth of 9.57 percent year-on-year (yoy) to Rp 2.29 trillion (US$158.83 million) in the second quarter of 2018.
The net profit growth was supported by sales that increased by 5.4 percent yoy, ICBP president director Anthoni Salim said in Jakarta, adding that second quarter sales increased to Rp 19.46 trillion from Rp 18.46 trillion in the same period last year.
"It is encouraging that our first half result of 2018 was recorded in a positive growth," he said in a statement.
The company also recorded an increase in the profit margin, which increased by 50 basis points (bps) to 11.8 percent, compared to 11.3 percent in the same period last year.
Anthoni stated that the positive earnings were supported by the Ramadhan and Idul Fitri festive season, which fell in the second quarter this year.
The government increased by 68.9 percent the Idul Fitri bonus given to civil servants, members of the military, police officers and pensioners, to Rp 35.76 trillion.
"The festive season has supported the improvement of fast moving consumer goods (FMCG) in the second quarter of 2018,” Anthoni said, adding that he still saw potential economic growth in the next quarter. (bbn)
