Indofood posted sales of IDR 30.54 trillion in the first quarter of 2023

The increase in Indofood’s sales was driven by sales to third parties of IDR 28.28 trillion, up 12.09 percent (yoy).

Jakarta (Armfalcon.com) – PT Indofood Sukses Makmur Tbk (stock code: INDF) posted sales of IDR 30.54 trillion in the first quarter of 2023, or an increase of 11.28 percent year-on-year (yoy) from the previous IDR 27.44 trillion in the same period last year.

Launching the financial reports on the Indonesian Stock Exchange (IDX), Jakarta, Wednesday, Indofood’s increased sales were driven by sales to third parties of IDR 28.28 trillion, up 12.09 percent (yoy), and sales to related parties of IDR 2.26 trillion or up 2.03 percent (yoy).

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However, Indofood’s increase in revenue was accompanied by an increase in cost of goods sold by 14.4 percent from IDR 18.4 trillion in the first quarter of 2022 to IDR 21.05 trillion in the first quarter of 2023.

After deducting various expenses, Indofood’s operating profit was recorded to have decreased by 4.51 percent (yoy) from IDR 5.2 trillion in the first quarter of 2022 to IDR 4.96 trillion in the first quarter of 2023.

Indofood continued to record profit for the period attributable to owners of the parent entity of IDR 3.84 trillion in the first quarter of 2023, an increase of 63.27 percent (yoy) from the same period last year of IDR 2.35 trillion.

Meanwhile, the increase in profit for the current period was driven by an increase in financial income from IDR 98.13 billion to IDR 2.27 trillion. The financial income is derived from the net profit on differences in foreign exchange rates from financing activities.

Until the end of March 2023, Indofood’s total assets increased to IDR 183.63 trillion compared to the end of December 2022 of IDR 180.43 trillion.

It was recorded that total liabilities decreased to IDR 85.95 trillion compared to the end of December 2022 of IDR 86.81 trillion. Meanwhile total equity rose to IDR 97.68 trillion compared to the end of 2022 of IDR 93.62 trillion.

Also read: Indoofod is ready to develop noodles from sorghum to replace wheat

source: www.antaranews.com

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