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Indofood CBP Sukses Makmur Q1 profit climbs 23.8% YOY

PT Indofood CBP Sukses Makmur Tbk said its normalized net income for the first quarter came to 61.18 rupiah per share, compared with the S&P Capital IQ consensus estimate of 67.23 rupiah per share.

EPS rose 23.8% year over year from 49.40 rupiah.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 713.51 billion rupiah, a gain of 23.8% from 576.12 billion rupiah in the prior-year period.

The normalized profit margin increased to 9.0% from 7.8% in the year-earlier period.

Total revenue climbed 8.3% year over year to 7.968 trillion rupiah from 7.355 trillion rupiah, and total operating expenses grew 7.3% on an annual basis to 6.973 trillion rupiah from 6.496 trillion rupiah.

Reported net income rose 14.0% on an annual basis to 796.79 billion rupiah, or 68.32 rupiah per share, from 698.73 billion rupiah, or 59.92 rupiah per share.

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