- CONSOLIDATED NET SALES GREW 18.8%
- OPERATING PROFIT UP 10.5% TO Rp474.11 BILLION
- NET INCOME IMPROVED TO Rp177.31 BILLION
- CORE PROFIT INCREASED TO Rp150.58 BILLION
Jakarta, April 30, 2007 – PT. Indofood Sukses Makmur Tbk (“Indofood”) today announced its financial results for the first quarter ended March 31, 2007, reporting consolidated net sales of Rp5.83 trillion, an 18.8% increase compared to Rp4.91 trillion in same quarter last year.
Consumer Branded Products Strategic Business Group (SBG), which include Noodles, Food Seasonings, Snack Foods and Nutrition & Special Food, posted 13.0% growth in total sales, brought about mainly by double digit growth in Noodles sales volume. Bogasari, Edible Oils & Fats and Distribution SBGs registered growth in total sales of 17.2%, 39.3% and 19.6% respectively.
“The rise in the price of wheat and other raw materials has put pressure on our gross margin, although the increase in CPO price has improved the performance of our Plantations division. The ongoing implementation of cost efficiency programs has continued to curb the effects on costs”, said Mr. Anthoni Salim, President Director and Chief Executive Officer.
Gross profit increased 16.4% to Rp1.25 trillion, while the gross margin slightly declined to 21.4%. Operating profit increased 10.5% to Rp474.11 billion, but operating margin decline to 8.1%. Net profit improved to Rp177.31 billion from Rp173.91 billion, while core profit increased to Rp150.58 billion from Rp98.20 billion.
Gross and net gearing ratios improved significantly to 1.09 and 0.48 times, from 1.51 and 1.28 times in the same period last year, resulting from the successful placement of new consolidated shares of Indofood Agri Resources Ltd. (IndoAgri) in February 2007.