INDOFOOD'S BUSINESS PROFIT UP 50.9 PERCENT

Jakarta, March 26 (ANTARA) - PT Indofood Sukses Makmur Tbk.'s business profit grew 50.9 percent in 2008, driven by net sales increase of 39.2 percent from Rp27.858 trillion in 2007 to Rp38.799 trillion in 2008.

In a press statement received here on Thursday the company said its divisions of instant noodle, seasonings, crackers, nutrition and special food products also recorded an increased sales of 26.3 percent.
The rise in sales happened likely because of a price hike driven by increasing price of raw materials in 2008. Sales in PT Bogasari, wheat producer, also rose well by 28.7 percent, it said.
Indofood's agribusiness sector also grew fast namely by 81.5 percent as a result of a hike in the price of crude palm oil and sales volume.
The hike in sales made gross profit to grow up to 35.5 percent while net profit 5.5 percent from 2007 reaching Rp1.034 trillion. "The core profit rose 22.8 percent to Rp1.449 trillion," its president director and chief executive officer, Anthoni Salim, said.
He said Indofood would implement prudence in managing its financing to maintain the stability of the company's performance in view of uncertain conditions in 2009.