Apr 30, 2012

Indofood Sukses 1Q profit up 10.8%

Asia's largest Instant noodle maker PT Indofood Sukses Makmur Tbk (INDF), controlled by Indonesian businessman Anthoni Salim, reported a 10.8% increase in net profit for the first 3 months of 2012.
INDF posted Rp815 billion net profit or Rp93 a share in 1Q 2012 from Rp735.61 billion or Rp84 a share in 1Q 2011.
Operating profit slightly increased 0.4% to Rp1.78 trillion from Rp1.77 trillion, while consolidated net sales slightly increased 9.9% to Rp11.83 trillion from Rp10.76 trillion.
The contributor for the sales growth was consumer branded products (CBP), Bogasari flour mills, agribusiness, and distribution segments respectively.
The CBP segment made the largest contribution to INDF's sales with 44%, followed by Bogasari with 25%, agribusiness with 23%, and 8% from distribution.
Sales of the CBP segment rose 13.4%, while Bogasari's sales increased 5.9%, agribusiness rose 10.2%, and distribution segment with 8.1% increase in sales. Indofood posted 2.47% in return on equity.
INDF CEO and President Director Anthoni Salim said despite the decrease of CPO and rubber prices that affected the agribusiness segment, the CBP and Bogasari experienced challenging situation as well. "However, we still enabled to achieve net profit increase." 

Disclosure: No position at the stock mentioned above.  

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