- Consolidated net sales grew 20.5% to Rp21.84 trillion
- Net income attributable to equity holders of the parent company increased 12.0% to Rp1.58 trillion
- Earnings per share ("EPS") increased to Rp180 in first semester of 2011
PT Indofood Sukses Makmur Tbk ("Indofood") today announced its financial result for the first semester of 2011. Indofood reported consolidated net sales of Rp21.84 trillion, an increase of 20.5% from Rp18.12 trillion in the same period last year. The four Strategic Business Groups ("Group") namely, Consumer Branded Products ("CBP"), Bogasari, Agribusiness and Distribution, contributed 42%, 27%, 24% and 7% respectively to consolidated net sales.
During the period, all Group posted sound revenue growth. CBP Group, which consists of Noodles, Dairy, Food Seasonings, Snack Foods, Nutrition & Special Foods Divisions, recorded a 7.2% increase in total sales value, driven by sales growth across the divisions. Bogasari Group reported an 18.5% increase in total sales value, attributable to both higher demand and average selling prices in conjunction with higher global wheat prices. Agribusiness Group posted a strong growth, registering total sales value of Rp6.00 trillion, an increase of 42.9% from Rp4.20 trillion due to higher sales volume of palm products and edible oils & fats, as well as higher CPO and rubber prices. Growth in CBP Group's sales has also contributed to the increase in Distribution Group's total sales value. Its revenue increased 12.9% compared with the same period last year.
Gross profit for the period increased 7.5% to Rp6.32 trillion from Rp5.88 trillion, but gross margin decreased to 28.9% from 32.5% mainly due to higher input costs. Income from operations grew 16.8% to Rp3.48 trillion from Rp2.98 trillion, however operating margin decreased to 15.9% from 16.4% impacted by lower gross margin. Net income attributable to equity holders of the parent company rose 12.0% to Rp1.58 trillion from Rp1.41 trillion on stronger operational results and lower net financing charges despite higher net income attributable to non-controlling interest due to divestment in PT Indofood CBP Sukses Makmur Tbk and PT Salim Ivomas Pratama Tbk in conjunction with their IPOs. Core profit increased 11.4% to Rp1.54 trillion from Rp1.38 trillion in the same period last year.
Anthoni Salim, the President Director and Chief Executive Officer of Indofood, said: "We are encouraged with our performance in the first semester of 2011. Despite pressure on input costs, we continued to show growth in our profitability. We will remain vigilant in managing our costs in order to deliver sustainable results."
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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 3 publicly listed companies, Indofood Agri Resources Ltd., listed on the Singapore Stock Exchange, PT PP London Sumatra Indonesia Tbk and PT Salim Ivomas Pratama Tbk, both listed on IDX. 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 Indofood's and its subsidiaries' consumer products as well as third party products.
For further information, please contact:
Werianty Setiawan
Director & Corporate Secretary
PT Indofood Sukses Makmur Tbk
Tel: +62 21 5795 8822 ext. 1215
Fax: +62 21 5793 7373