Indonesia’s Indofood has posted higher first-half sales and profits, pointing to growth from its agribusiness arm.
Income attributable to shareholders of the parent company came in at IDR2.27trn (US$170m) for the six months to the end of June, compared to IDR2.23trn a year earlier.
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The company’s income from operations climbed 13.6% to IDR4.6trn. Its operating margin increased to 12.8% from 11.8%.
Consolidated net sales for the three months ended June 30 rose 4.6% to IDR35.7trn from a year earlier.
“Amidst moderate demand for fast-moving consumer goods, Indofood registered healthy growth in the first semester of 2017, thanks to the improved performance of our agribusiness group,” Indofood president director and CEO Anthoni Salim said. “The increase in CPO production and higher palm product prices has supported the group’s performance.”
Indofood, the owner of the Supermi noodles brand, said its consumer branded business accounted for 50% of sales during the period. Sales from the division rose 1.8% to IDR18.04trn.
The Jakarta-based company’s segments of Bogasari and agribusiness each provided 21% to the total sales results, while distribution added 8%.
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By GlobalData
