Indofood's nine-month profits increase 14%<\/p>\n
Food processor PT Indofood Sukses Makmur Tbk said on Tuesday
\nthat its net income rose 14 percent to Rp 573.5 billion (US$52
\nmillion) in the first nine months of the year, compared to the
\nsame period of 2000.<\/p>\n
Consolidated sales for the nine-month period reached Rp 10.7
\ntrillion, or a 14 percent increase over the same period of last
\nyear, company president and chief executive officer Eva Riyanti
\nHutapea said in a statement on Tuesday.<\/p>\n
Nearly all operating divisions recorded increased sales with
\nnoodles, flour, and the edible oils and fats divisions
\ncontributing a total of 80 percent of sales, she said.<\/p>\n
The growth in net income was mainly due to lower foreign
\nexchange losses as a result of the reduction in the company's
\noutstanding foreign exchange debts to US$348 million as of Sept.
\n30, 2001 from $452 million as of Sept. 30, 2000.<\/p>\n
On a positive note, Hutapea said that as of Sept. 30, Indofood
\nhad hedging contracts amounting to $310 million.<\/p>\n
Of the US$348 million in debts outstanding at the end of the
\nthird quarter, $215 million would not mature until mid-2002,
\nwhile the balance of $133 would mature between 2003 and 2005, she
\nsaid. --JP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/indofoods-nine-month-profits-increase-14-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}