Wednesday, 22 May 2019 | 05:56 WIB

Weak Request, Indofood’s Profit Grows a Low 1.2 Percent

Indofood’s officials at Public Expose Marathon at IDX

JAKARTA, NETRALNEWS.COM - PT Indofood Sukses Makmur Tbk (INDF) posted a net profit growth of 1.2 percent to IDR3.28 trillion at the end of the third quarter of 2017 compared to the same period last year with IDR3.24 trillion.

However, its net margin declined to 6.2 percent from 6.5 percent.

"In the third quarter of 2017, market conditions in general have not changed much. Demand for fast moving consumer goods is still weak, while the level of competition is getting tighter," said Indofood’s President Director and CEO Anthoni Salim in his written statement in Jakarta on Tuesday (10/31/2017).

He explained, corporate core profit in the third quarter of 2017 recorded a 3.9 percent increase, from IDR3.12 trillion to IDR3, 24 trillion.

Meanwhile, the company's consolidated net sales increased by 6.5 percent to IDR53.12 trillion from IDR49.87 trillion in the same period the previous year.

Anthoni explained that strategic business group (Group), branded consumer products (CBP), bogasari, agribusiness, and distribution each contributed sales of 50 percent, 22 percent, 20 percent and eight percent to total consolidated net sales.

Meanwhile, the company's operating profit grew 14.6 percent to IDR6.8 trillion from IDR5.93 trillion previously.