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.
In unaudited consolidated financial results reported to the Jakarta stock exchange, the noodles maker said income from operations for the period was IDR5.9trn compared to IDR5.4trn for the corresponding period in 2015.
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The company said pre-tax income for the nine-month period in 2016 was IDR5.4trn, versus IDR2.6trn in the same period last year.
Indofood, which manufacturers food including noodles, dairy, snacks and seasonings, said the company’s performance was helped by lower raw material costs and sales price increases as demand for packaged food in Indonesia grew.
The results show continued “resilience” by the food group from when it reported rising half-year sales and profits in the summer, shrugging off the impact El Nino has had on its palm oil production.
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By GlobalData
