Indofood sees higher profit

Indofood sees higher profit

JAKARTA (JP): Publicly-listed food maker PT Indofood Sukses
Makmur expects a net profit of about Rp 1 trillion (about
US$142.85 million) this year if the exchange rate of the rupiah
against the U.S. dollar stays at the Rp 7,000 level, the
company's CEO Eva Riyanti Hutapea said on Tuesday.

"If the rupiah stays at the Rp 7,000 level, our net profit
this year could reach Rp 1 trillion," Eva told the media on the
sidelines of a working session at the House of Representatives.

Eva didn't provide any details as to how her company would
achieve such a high profit.

The rupiah has been hovering at about Rp 7,000 per dollar over
the past several weeks.

Indofood booked a net profit of Rp 150 billion last year after
suffering a net loss of Rp 1.2 trillion in 1997.

The company reported a consolidated net profit of Rp 845
billion in the third quarter of this year.

Consolidated net sales were Rp 8.4 trillion during the first
nine months, higher than Rp 6.4 trillion booked during the same
period last year.

Noodles, flour and edible oils and fats continued to dominate
Indofood's third quarter of accumulated net sales, contributing
37 percent, 25 percent and 24 percent respectively. (rei)