Jakarta: PT Indofood Sukses Makmur Tbk today announced its full year financial results for the year ended December 31, 2019. The company posted four percent growth in consolidated net sales to Rp76.59 trillion from Rp73.39 trillion last year.
Income from operations increased eight percent to Rp9.83 trillion from Rp9.14 trillion with operating margin of 12.8 percent. Income for the year attributable to equity holders of the parent entity grew 18 percent to Rp4.91 trillion from Rp4.17 trillion.
Net margin improved to 6.4 percent from 5.7 percent. Core profit increased 23 percent to Rp4.90 trillion from Rp3.99 trillion
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“Indofood has shown its resilience as a Total Food Solutions Company through positive growth both in top line and bottom line despite the headwinds that arose from weak commodity prices," Anthoni Salim, the President Director and Chief Executive Officer of Indofood, said in a press release on Monday, March 23, 2020.
"Going forward, we will continue to focus on bolstering competitiveness by developing strong brand equities and ensuring continuous product innovation; expanding our distribution networks; and investing in continuous productivity and efficiency enhancements.” he stated.
Over the last two decades, Indofood has progressively transformed into a Total Food Solutions company with operations in all stages of food manufacturing, from the production of raw materials and their processing, to consumer products in the market.