PT Indofood Sukses Makmur Tbk (“Indofood”) today announced its financial results for the first quarter ended March 31, 2011. Indofood recorded consolidated net sales of Rp10.76 trillion, increased 15.6% from Rp9.31 trillion in the same quarter last year. All Strategic Business Group (“Group”), namely Consumer Branded Products (“CBP”), Bogasari, Agribusiness and Distribution registered healthy sales growth.
The CBP Group, which consists of Noodles, Dairy, Food Seasonings, Snack Foods, Nutrition & Special Foods Divisions, recorded 8.3% total sales value growth, driven by the increase in sales volume and average selling price. The CBP Group continued to be the highest contributor to consolidated net sales, contributing 43%.
Total sales value of Bogasari Group increased 15.9% on the back of stronger volume and higher flour price in conjunction with higher global wheat prices. Bogasari Group contributed 26% to consolidated net sales.
The Agribusiness Group continued to benefit from higher CPO and rubber prices. The higher prices combined with increased production, as well as stronger edible oils and fats sales has resulted in significant increase of 37.5% in the Group’s total sales value. Contribution of Agribusiness Group to consolidated net sales was 23%.
Distribution Group also recorded total sales value growth of 4.2%, partly due to higher sales of CBP Group. Distribution Group contribution to consolidated net sales was 8%.
Accordingly, gross profit for the period increased 18.9% to Rp3.32 trillion from Rp2.80 trillion and operating profit grew 32.0% to Rp1.77 trillion from Rp1.34 trillion. Gross margin and operating margin improved to 30.9% and 16.5%, respectively. Net income attributable to the equity holders of the parent company rose 16.4% to Rp735.6 billion from Rp631.9 billion. Core profit increase to Rp726.4 billion from Rp581.4 billion in the same quarter last year.
Anthoni Salim, the President Director and Chief Executive Officer of Indofood, said: “We are very pleased that we started the year with solid performance. We will continue to capitalize on strength of our business model to sustain our performance.”
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About PT Indofood Sukses Makmur Tbk
PT Indofood Sukses Makmur Tbk (“Indofood”) (IDX : INDF) is a leading Total Food Solutions company with operations in all stages of food manufacturing from the production of raw materials and their processing through to consumer products on the retailer’s shelf.
Indofood operates four complementary Strategic Business Groups, namely:
- Consumer Branded Products, its business activities are conducted by PT Indofood CBP Sukses Makmur Tbk (“ICBP”), which was listed on IDX since 7 October 2010. ICBP is one of the leading packaged food producers in Indonesia, with a wide range of packaged food products. ICBP brands are among the strongest brands with the most significant mindshare in Indonesia for consumer food brands.
- Bogasari, primarily a producer of wheat flour as well as pasta.
- Agribusiness, its business activities are concentrated in 2 publicly listed companies, Indofood Agri Resources Ltd., listed on the Singapore Stock Exchange, and PT PP London Sumatra Indonesia Tbk, listed on the Indonesia Stock Exchange. The group’s business principal activities range from research and development, oil seed breeding and cultivation as well as refining, branding and marketing of cooking oil, margarine and shortening. In addition the Group is also involved in the cultivation and processing of rubber, sugar cane, cocoa and tea.
- Distribution, boasts the most extensive distribution network in Indonesia. It distributes the majority of ISM’s and its subsidiaries’ consumer products as well as third party products.
For further information, please contact:
PT Indofood Sukses Makmur, Tbk
Werianty Setiawan
Director & Corporate Secretary
Tel: +62 21 5795 8822 ext. 1215