Maker of Indomie Posts Net Profit Gain during Coronavirus Pandemic

JAKARTA, KOMPAS.com – Indomie producer Indofood recorded a net profit gain of 4 percent during the first quarter of 2020.

The Indonesian conglomerate managed to earn Rp 1.40 trillion, up from Rp 1.35 trillion in the same period last year.

PT Indofood Sukses Makmur Tbk’s net profit gain was supported by an uptick in consolidated net sales of 1 percent or equivalent to Rp 19.30 trillion.

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The Indomie producer's consolidated net sales year on year totaled Rp 19.17 trillion.

Indofood’s President Director and Chief Executive Officer Anthoni Salim owed the growth in net profit to the company’s hard work to increase competitiveness amid the coronavirus pandemic.

“Amid today’s challenging global conditions, Indofood successfully maintained strong performance during the first quarter of 2020. In the future, we will remain cautious and continue improving our competitiveness,” said Anthoni on May 22.

Profit gain for sister company

Profit for Indomie producer’s sister company PT Indofood CBP Sukses Makmur Tbk soared 48 percent year on year to Rp 1.98 trillion.

It also booked a 15-percent increase in its core profit totaling Rp 1.57 year on year from a previous Rp 1.37 trillion.

The growth was the result of the company’s soaring sales performance that increased by 7 percent or Rp 12.01 trillion.

During the same period last year, the company’s sales performance reached Rp 11.26 trillion.

Indofood and Indofood CBP are producers of a wide range of food products including Indomie. The company also produces a variety of snacks and drinks.

“We will continuously monitor and adjust ourselves to the current changes while carefully managing our business and remaining competitive in the market,” said Anthoni Salim.

Weak business climate