Indonesia's largest instant noodle maker PT Indofood Sukses Makmur Tbk (INDF) reported a 45.84% increase in net profit in 1Q 2011 as consolidated net sales grew 15.6%.
Indofood posted Rp1.23 trillion net profit in 1Q 2011 from Rp842.72 billion in 1Q 2010. Operating profit recorded Rp1.77 trillion, increased 32.19% from Rp1.34 trillion.
Indofood's gross profit was Rp3.32 trillion, a 18.9% increase from Rp2.79 trillion. Net sales increased 15.6% to Rp10.76 trillion from Rp9.31 trillion.
Indofood's business, branded consumer products (CBP), wheat flour mills Bogasari, agribusiness, and distribution, improved their performances.
CBP business booked a total sales increase of 8.3%, Bogasari of 15.9%, agribusiness of 37.5%, and distribution of 8%.
Disclosure: No position at the stock mentioned above.
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