Indonesian food company Indofood Sukses Makmur has reported a 25% fall in 2003 net profit, hit by higher interest charges and foreign currency losses.

The world’s largest maker of instant noodles posted 2003 net profit of 603.5bn rupiah (US$71.3m), compared to 802.6bn rupiah in the previous year. Analysts had been expecting net profit of 701bn rupiah, reported Reuters.

Indofood, which is 48% owned by Hong Kong-listed First Pacific, said 2003 revenue rose to 17.87trn from 16.46trn in the previous year.

The company has the capacity to produce 13.7 billion packs of instant noodles per year and also owns the world’s largest flour miller, Bogasari Flour Mills.