Indofood records profit

JAKARTA (JP): PT Indofood Sukses Makmur, a food unit of the Salim Group, reported a net profit of Rp 81.8 billion (US$9.6 million) for the first nine months of this year, compared to a loss of Rp 456.23 billion in the same period of last year.

Company Chief Operating Officer Eva Riyanti Hutapea said in a statement on Sunday that the nine-month profit was built on sales of more than Rp 6.4 trillion, an 81 percent increase over the same period of last year.

Indofood is the country's largest food producer, especially of noodles. The company sold 6.2 billion packs of instant noodles in the first nine months of this year.

Eva said the noodles division was the largest contributor to the company's total sales, with 34 percent of total sales, followed by the edible oil and fat division (26 percent) and flour milling (14 percent).

Indofood's total assets were Rp 14 trillion at the end of September, more than double the Rp 6.1 trillion recorded at the end of September last year. However, the expanded assets were bolstered by bank loans totaling Rp 11.8 trillion as of the end of last September. The company's cash position at the end of the month was Rp 2.1 trillion. (rid)