Indofood reports lower income

JAKARTA (JP): Local noodle giant PT Indofood Sukses Makmur reported on Monday its consolidated net profit dropped 65 percent to Rp 286.5 billion (US$35.8 million) in the first semester this year from Rp 819.3 billion in the same period last year.

The publicly listed company attributed the decline partly to huge foreign exchange losses of Rp 616.6 billion.

Net sales grew 5 percent in the first semester to reach Rp 5.87 trillion, while operating income rose 12 percent to Rp 1.23 trillion.

The company said noodles, flour milling and edible oils and fats were still the biggest contributors, 36 percent, 26 percent and 20 percent respectively, to its consolidated sales. (cst)