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PT Adaro Energy Tbk (ADRO), PT Indofood Sukses Makmur Tbk (INDF) and PT Puradelta Lestari Tbk (DMAS) are among the publicly-listed companies who have donated funds to help cope with the Covid-19 pandemic
Despite being deemed a resilient sector by market players because people always buy consumer goods regardless of the economic situation, the price index of those stock declined by 20.92 percent year-to-date (ytd) as of Dec. 18
Publicly listed food conglomerate PT Indofood Sukses Makmur booked double-digit net profit growth from January to September period this year from the same period a year ago, with moderate sales growth thanks to lower costs.
As the food and beverage industry faces a persistent decline in carbonated drink sales in Indonesia that is sending Pepsi out of the market, competitor Coca-Cola is expanding its operations in the country.
