Indofood, the Indonesia-based food group, today (24 March) booked a jump in annual profits, helped by one-off factors but also underlying growth.
The company booked income attributable to equity holders of the parent entity of IDR4.14 trillion (US$311.5m) for 2016, up 39.6% on 2015.
Without taking into account “non-recurring items” – which Indofood did not specify – and the impact of exchange rates, the company’s “core profit” increased 12% to IDR3.99 trillion.
Indofood said its income from operations increased 12.5% to IDR8.29 trillion. Its operating margin rose from 11.5% to 12.4%.
Consolidated net sales grew 4.2% to IDR66.75 trillion.
Anthoni Salim, Indofood’s president director and CEO, said: “2016 has been a very good year for Indofood. We deliver record-high bottom line and core profit, demonstrating good quality earnings. As we moved forward toward 2017, we remain positive on the outlook of domestic economy and commodity prices, in particular crude palm oil. We will continue to uphold a prudent approach to sustainable growth, both organically and inorganically, as we strive to continue deliver top-line and bottom-line growth while maintaining a healthy financial position.”