Indonesia: Indofood records Rp 4.17 trillion net profit in 2017

• Mar 20, 2018

Food product company PT Indofood Sukses Makmur of the Salim Group has booked Rp 4.17 trillion (US$291.9 million) in net profit in 2017, slightly increased by 0.6 percent year-on-year (yoy).

Its net margin declined to 5.9 percent from 6.2 percent, mainly due to the absence of income in 2017 from discontinued operations, the company stated.

Indofood’s net consolidated sales grew by 5.3 percent to Rp 70.19 trillion from Rp 66.66 trillion in 2016.

Consumer branded products, Bogasari, agribusiness and distribution respectively contributed around 50 percent, 22 percent, 20 percent and 8 percent to sales.

“Despite the stable macroeconomic condition, 2017 was a challenging year for the FMCG [fast-moving consumer goods] industry, when consumer demand was dampened,” Indofood president director and CEO Anthoni Salim said in a statement.

With improvements in the domestic economy, however, the company remained hopeful of its business prospects in 2018, the statement added. (bbn)

Source: http://www.thejakartapost.com/news/2018/03/20/indofood-records-rp-4-17-trillion-net-profit-in-2017.html