Indofood, Company Owned By Conglomerate Anthony Salim Raised Sales Of Rp24.55 Trillion In First Quarter 2021

Conglomerate Anthony Salim. (Photo: Instagram @forbesindonesia)

JAKARTA - PT Indofood Sukses Makmur Tbk (Indofood) announced its financial performance for the period ended March 31, 2021. The company posted a 27 percent increase in consolidated net sales in the first quarter of 2021 to Rp24.55 trillion compared to Rp19.30 trillion last year.

In a press statement, Wednesday, June 30, the company owned by conglomerate Anthony Salim posted an operating profit of Rp4.91 trillion in the first quarter of 2021, up 43 percent compared to Rp3.43 trillion in the same period the previous year. Operating profit margin increased to 20.0 percent from 17.8 percent.

The profit for the period attributable to owners of the parent entity grew 23 percent to Rp1.73 trillion in the first quarter of 2021 from Rp1.40 trillion.

Indofood's President Director and Chief Executive Officer, Anthony Salim said, amid these challenging and uncertain conditions, Indofood was able to maintain a positive performance in the first quarter of 2021.

"In the future, we will remain vigilant in protecting our employees and continue to create business growth and improve our competitiveness," said Anthony Salim.

Previously, in 2020 Indofood posted net sales of Rp. 81.73 trillion, up 7 percent compared to the previous year which was valued at Rp. 76.59 trillion.

Along with Indofood's sales, the company's operating profit increased 31 percent to Rp12.89 trillion in 2020 from Rp9.83 trillion with an operating profit margin of 15.8 percent.

This boosted the profit for the year attributable to owners of the parent entity increased by 32 percent to Rp6.46 trillion from Rp4.91 trillion, and net profit margin increased to 7.9 percent from 6.4 percent.

PT Indofood Sukses Makmur Tbk (INDF) is engaged in processed foods, seasonings, beverages, packaging, cooking oil, wheat mills and flour sacks manufacturing. The company owned by the 4th richest person in Indonesia, according to Forbes as of December 2020, started its commercial operations in 1990.

In the processed food business, INDF has the Indofood CBP Sukses Makmur entity which has popular types of food such as Indomie, Supermie, Chitato, and others. INDF also owns Bogasari, a company that produces flour and pasta.

In the agribusiness sector, INDF conducts research and development, seed breeding, oil palm cultivation and processing to the production and marketing of cooking oil, margarine and shortening products. The famous product is Bimoli, a cooking oil that is very often found in the market.