Mar 21, 2011

Indofood FY10 net income soars 41.83%

PT Indofood Sukses Makmur Tbk (INDF) bagged 41.83% net income jump last year while its revenue only rose by 2.70%.
The holding company of PT Indofood CBP Sukses Makmur Tbk (ICBP) recorded Rp2.95 trillion net income or Rp336 per share in 2010 compared to the previous year at Rp2.08 trillion or Rp236 per share.
Indofood Sukses, being controlled by Anthoni Salim through First Pacific Limited, booked 34.6% operating income growth from Rp5 trillion to Rp6.73 trillion.
As a result, Indofood Sukses’s operating margin augmented from 13.37% to 17.52%.
The gross income also climbed by 19.44% from Rp10.44 trillion to Rp12.47 trillion.
Indofood successfully recorded profit jump as it eroded the cost of goods sold by 3.82% from Rp26.96 trillion to Rp25.93 trillion. The net sale only grew by 2.70% from Rp37.39 trillion to Rp38.40 trillion.

Disclosure: No position at the stock mentioned above.  

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