Indofood's Net Profit Reaches $89 Million

VIVAnews - PT Indofood Sukses Makmur Tbk. (INDF) recorded a net profit valuing Rp 1.03 trillion (US$89.88 million) in 2008. The net profit earning increased around 5.5 percent compared to the same period in 2007 of Rp 980.35 billion (US$85.55 million).

The profit increase is supported by the net selling rise from Rp 27.85 trillion (US$2.43 billion) to Rp 38.79 trillion (US$3.38 billion). Still, the cost of goods sold has also increased to Rp 29.82 trillion (US$2.6 billion) compared to the same period in 2007 of Rp 21.23 trillion (US$1.85 billion).

Based on the company's financial report which was published on Wednesday, March 25, the company's profit has also grown from Rp 2.87 trillion (US$250.44 million) to Rp 4.34 trillion (US$378.71 million).

Meanwhile, the company's interest income in 2008 is recorded valuing Rp 168.51 billion (US$14.7 million), higher than in 2007 valuing Rp 158.34 billion (US$13.82 million).

Yet, the company recorded a loss on currency difference for Rp 713.13 billion (US$62.23 million) from a previous currency profit record for Rp 13.41 billion (US$1.17 million).

On that period, the company's asset reached Rp 39.59 trillion (US$3.45 billion) and equity Rp 8.49 trillion (US$740.85 million). Indofood's obligation is recorded around Rp 31.09 trillion (US$2.71 billion).

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Translated by: Ariyantri E. Tarman