INDONESIA: Indofood boss warns of wheat cost pressure
The chief of food group Indofood Sukses Makmur has warned that the rising cost of wheat could impact its 2007 results despite posting rising first-half profits.
Anthoni Salim, president director and CEO of Indonesia's largest instant noodle maker, said raw material prices, particularly wheat "show no sign of softening".
Salim said: "We will continue to be vigilant in controlling our operating costs, increasing our operating efficiency as well as enhancing our marketing and distribution strategies."
Indofood shrugged off rising commodity costs with a 7% rise in operating profit to IND994bn (US$106m). Net sales leapt 21.3% to IND10.1trillion.
However, pressure from commodity costs did impact margins, which dipped to just over 8%.
- Wessanen's move for Spain's Biogran - analysis
- The key questions for digital strategists in 2017
- Unilever 2016 investor day - the top takeaways
- Burger King, Jollibee: foodservice focus, Nov 2016
- Whole Foods, Aldi, M&S - retail round-up, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- Hain Celestial appoints Nestle executive as US COO
- Chobani COO Burns to leave yogurt firm
- Tyson sets up US$150m investment fund
- How Brands Are Making Our Food Healthier
- Confectionery North America (NAFTA) Industry Guide_2016
- Processed Snacks (Savory Snacks) Market in the United States - Outlook to 2020: Market Size, Growth and Forecast Analytics
- Global Dried Processed Food Market 2016-2020
- Frozen Food Production in the US - Industry Market Research Report