Indonesian noodle maker Indofoods today (27 June) forecast a 6% increase in sales this year. Indofood posted revenues ot IDR27trn (US$2.9bn) in 2007.

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According to a Dow Jones report, Indofood VP Franciscus Welirang told reporters that the company currently has no plans to increase prices after it raised them by IDR100 per pack in April.


“I don’t think we will hike the prices again considering the [heightening competition] and weaker consumers’ purchasing power,” Welirang reportedly said.
 
Rising global wheat prices have forced Indofood to increase noodle prices several times over the last year while consumer spending is falling due to rising inflation.


Indofood also announced plans to sell 251.8m treasury stocks today.

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