Indofood sales growth on track: CEO<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
The world's largest noodle maker, PT Indofood Sukses Makmur,
\nsaid on Friday it was optimistic of meeting this year's sales
\ntarget of about Rp 19 trillion (US$2.28 billion) on the back of
\nan increase in consumer spending.<\/p>\n
Indofood chief executive office Eva Riyanti Hutapea said the
\ncompany's sales would get a boost from an expected rise in
\nconsumer spending during Muslim festivities in October and
\nNovember and the year-end holidays of Christmas and the New Year.<\/p>\n
"I am optimistic that we can reach the target. We have
\nincreased our production output starting this month by 20 percent
\ndue to higher demand," said Eva on the sidelines of the signing
\nof a cooperation agreement with Bank Permata.<\/p>\n
Earlier, some analysts expressed doubt about Indofood's
\nability to reach the sales target given the fact that the
\npublicly listed company's net sales only grew by 6.5 percent to
\nRp 8.4 trillion in the first semester of this year, from Rp 7.9
\ntrillion a year earlier.<\/p>\n
During the first half of this year, Indofood's net profit
\nstood at Rp 308.9 billion, less than the Rp 571.1 billion it
\nbooked in the same period last year.<\/p>\n
Indofood attributed this decline to lower foreign exchange
\ngains -- down from Rp 314.7 billion during the same period last
\nyear to Rp 71.2 billion -- due mostly to the rapid appreciation
\nof the rupiah against the U.S. dollar.<\/p>\n
The company earned most of this profit from its instant
\nnoodles division, which accounted for about 55 percent of sales.
\nThe remaining profit was from flour, edible oil and fats, snacks
\nand baby food.<\/p>\n
With 11 brands of instant noodles, the company currently
\ncontrols 88 percent of the Indonesian instant noodle market.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indofood-sales-growth-on-track-ceo-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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