PT Indofood Sukses Makmur Tbk,Indonesia's largest noodle and flour maker, said first quarter
net income surged almost five-fold due to higher sales from its food and dairy units as well as oil palm plantations.
net income surged almost five-fold due to higher sales from its food and dairy units as well as oil palm plantations.
Net income for the period ended March 31 rose to IDR631.87 billion from 110.44 billion rupiah a year earlier.
Indofood said revenue in the first three months of the year climbed to 9.31 trillion rupiah from 8.88 trillion rupiah in 2009.
Indofood, the maker of Indomie noodles and Bimoli cooking oil, is benefiting from higher palm oil and rubber prices which surged last year as the global recovery boosted demand and as
the Southeast Asian nation's economy expanded 4.5 percent in 2009, increasing the purchasing power.
the Southeast Asian nation's economy expanded 4.5 percent in 2009, increasing the purchasing power.
Cost of goods sold in the period declined to IDR6.5 trillion from IDR6.6 trillion a year earlier, Indofood said.
Strong economic conditions and improvement in operational activities contributed to the company's increased net income, Indofood Chief Executive Officer Anthoni Salim said in a
separate statement to the Indonesia Stock Exchange, last week.
separate statement to the Indonesia Stock Exchange, last week.
Consumer products units accounted for 46 percent of revenue in the period, up from 43 percent a year earlier due to gains in noodles, dairy and food-seasoning sales, the company said.
Higher palm oil and rubber prices raised contribution from plantations units to 20 percent of sales, from 19 percent a year before, Jakarta-based Indofood said.
Indofood Agri Resources Ltd., Indofood's plantation unit, reported a 29 percent increase in first quarter net income to 309.8 billion rupiah, the company said in a statement to the
Singapore Stock Exchange, last week.
Higher palm oil and rubber prices raised contribution from plantations units to 20 percent of sales, from 19 percent a year before, Jakarta-based Indofood said.
Indofood Agri Resources Ltd., Indofood's plantation unit, reported a 29 percent increase in first quarter net income to 309.8 billion rupiah, the company said in a statement to the
Singapore Stock Exchange, last week.
On March, Indofood has just finalized the internal restructuring by stock and bond swap of one subsidiary firm to another, PT Indofood CBP Sukses Makmur.
The stock swapped here was worth IDR106.39 billion and DIR2.73 trillion. The total of transaction stood at IDR3.93 trillion including the convertible bonds. On March 17, 2010, the company has sold and swapped the subsidiary firm into PT In-dofood CBP Sukses Makmur.
The company divested 29.15 million shares issued by PT Indofood Fritolay Mak-mur, and 320 million sares issued by Drayton Pte Ltd. both transactions here were worth IDR106.39 billion and IDR2.73 trillion.
Shares of Indofood Fritolay was sold 51 percent of the total shares. Stock at Drayton is about 100 percent of the shares issued by the indofood.
Besides, the company alsow swapped the convertible bonds worth IDR1.09 trillion issued by Drayton.
Shares of Indofood Fritolay was sold 51 percent of the total shares. Stock at Drayton is about 100 percent of the shares issued by the indofood.
Besides, the company alsow swapped the convertible bonds worth IDR1.09 trillion issued by Drayton.
No comments:
Post a Comment