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Rabu, 24 Agustus 2011

Indofood H1 Profit Soars 42% - The Indonesia Today

Giant food processor PT Indofood Sukses Makmur (INDF) Tbk booked net profit of Rp2.55 trillion in the first half of 2011, soared 42% from the corresponding period last year.

Indofood reported sales revenue of Rp21.8 trillion in the first six months of 2011, representing an increase of 14% over the same period last year. But as cost of goods sold surged 27% to Rp15.5 trillion, Indofood's gross profit actually increased only slightly by 7.5%.

Indofood, however, managed to cut some operating costs, resulting in a 16.8% growth in operating profit to Rp3.48 trillion.

Combined with lower financial costs, Indofood then posted 42% jump in net profit to Rp2.55 trillion or an EPS of Rp180.

Indofood shares closed at Rp6,750 Tuesday (August 23). The stock has gained about 35% year-to-date.

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