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Indofood

Indofood, the Indonesia-based food group, today (24 March) booked a jump in annual profits, helped by one-off factors but also underlying growth.

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Indonesia-based food group Indofood has booked a 4.8% increase in net sales for the nine months to 30 September to IDR49.9trn (US$3,8bn) compared to IDR47.5trn in the same period a year ago.

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Indofood is to sell its 82.88% stake in Singapore-listed vegetable processor China Minzhong Food Corp. to Marvellous Glory Holdings – an investment vehicle indirectly owned by the Indonesia-based food group's president Anthoni Salim – for SGD651.9m (US$484.1m).

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Indofood has opened an instant noodle factory in the Serbian town of Indjija, 80 kilometres from the country's capital, Belgrade. 

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Indofood, the Indonesia-based food group, today (19 August) reported rising half-year sales and profits, shrugging off the impact El Nino has had on its palm oil production.

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PepsiCo insisted it has "engaged" with Indofood over allegations the US group's Indonesian partner breaches workers rights through practices including the use of child labour on its palm oil plantations.

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First-quarter profits at Indonesian agri-food business Indofood have risen on the back of higher sales.

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Higher finance costs and the impact of foreign exchange weighed on the bottom line of Indonesian agri-food business Indofood in 2015.

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Indonesian food giant Indofood is to cut its stake in China Minzhong Food through a sale of an investment vehicle backed by the vegetable processor's senior management.

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Days before Christmas came one of the more notable deals of recent months with Thai seafood giant Thai Union Frozen swooping for US group Bumble Bee Foods. In the US, ConAgra Foods wrote down the value of its own-label arm and Kraft Foods Group announced a new CEO. Elsewhere, Australian retailer Coles admitted payments it demanded from suppliers broke competition law and we interviewed the CEO of Groupe Doux, the French poultry group getting itself back on a firmer footing a year after emerging from administration.

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Brazilian food group BRF and Indonesia food company Indofood are set to work together in the Asian market.

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The bidding for Egyptian snacks group Bisco Misr intensified, there was speculation over Kerry Group's frozen ready-meal business and Danone sold its dairy business in Indonesia.

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Danone plans to invest in expanding its remaining businesses in Indonesia following the sale of its fresh dairy unit to Indofood, the French group has told just-food.

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Indofood struck a deal to acquire 100% of Danone Dairy Indonesia (DDI) through its local dairy subsidiary Indolakto.

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Profits at Indonesian food group Indofood Sukses Makmur fell almost a quarter in the first nine months of the year as higher costs offset better sales.

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Noodle maker Indofood has said its bid to 100% of Chinese vegetable processor China Minzhong has become "unconditional" after it secured over half the business.

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Chinese fresh vegetable food processor China Minzhong Food Corp (CMFC) has received a takeover bid from its largest shareholder Indofood CBP Sukses Makmur.

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Indonesian noodle maker Indofood CBP Sukses Makmur saw its operating earnings fall in the first half of the year, hurt by "challenges" in the agribusiness sector.

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Indonesian noodle maker Indofood CBP Sukses Makmur has recorded a decline in first-quarter profit as earnings were hit by a weak performance in its agribusiness unit.

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Indonesian noodle maker Indofood CBP Sukses Makmur has increased its stake in Chinese fresh vegetable food processor China Minzhong Food Corp (CMFC).