Indofood books 8% rise in income

JAKARTA: The country's largest noodle maker, PT Indofood, posted last year an 8 percent rise in its consolidated net income to Rp 802.6 billion (about US$88 million), from Rp 746.3 billion recorded the previous year.

Company president director Eva Riyanti Hutapea said in a media statement over the weekend that the rise in net income had come on the back of a 12 percent increase in total sales, coupled with a strengthening of the rupiah.

For 2002, its total sales reached Rp 16.5 trillion, as against Rp 14.6 trillion booked in 2001.

"Going forward, the focus of Indofood's major activities will include increasing asset productivity and efficiency, and continuing to leverage sales and distribution networks.

"I believe these initiatives will bring Indofood to the next level of performance," Eva said.

At the end of December 2002 the company's total assets were valued at Rp 15.3 trillion, including cash and cash equivalents of Rp 1.4 trillion, while shareholder equity amounted to Rp 3.7 trillion. -- JP