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Indofood Sukses Makmur Q1 profit falls YOY

PT Indofood Sukses Makmur Tbk said its normalized net income for the first quarter was 64.96 rupiah per share, a decrease of 35.8% from 101.22 rupiah per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 570.38 billion rupiah, a decline of 35.8% from 888.72 billion rupiah in the year-earlier period.

The normalized profit margin declined to 4.0% from 5.9% in the year-earlier period.

Total revenue totaled 15.021 trillion rupiah, compared with 15.032 trillion rupiah in the prior-year period, and total operating expenses came to 13.368 trillion rupiah, compared with 13.356 trillion rupiah in the year-earlier period.

Reported net income fell 41.3% on an annual basis to 661.18 billion rupiah, or 75.30 rupiah per share, from 1.126 trillion rupiah, or 128.26 rupiah per share.

As of April 30, US$1 was equivalent to 12,980 rupiah.