Indofood Sukses Makmur Reports Net Profit of Rp2.36 Trillion in Q1 2022

Indofood Sukses Makmur Tbk (INDF) reported a net profit of Rp2.36 trillion in the first quarter of 2022. This represents a 36.4% increase compared to the same period in the previous year, which was Rp1.73 trillion.

The increase in net profit was partly driven by increased sales in the January-March 2022 period. According to the company's financial report, sales and operating revenue increased by 12% to Rp27.45 trillion in Q1 2022 from Rp24.55 trillion in the same period last year.

Earnings per share for INDF also rose by 36.5% to Rp269 per share in Q1 2022, compared to Rp197 per share in the same period last year.

Finance costs decreased by 32% to Rp1.05 trillion in the first three months of this year, down from Rp1.55 trillion. The company's assets increased by 10.7% from Rp169.5 trillion in Q1 2021 to Rp187.7 trillion in Q1 2022.

Looking at the trend, INDF's net profit has been steadily increasing since Q1 2019. At that time, the company only recorded a net profit of Rp1.35 trillion.

Indofood's President Director and Chief Executive Officer, Anthoni Salim, stated that amidst the current global uncertainties, Indofood achieved positive performance in the first quarter of 2022.

"Going forward, we will continue to maintain Indofood's performance in the domestic and international markets by balancing market share and profitability, and improving operational efficiency and productivity, while remaining cautious in line with developments," said Anthoni in a press release on Tuesday (May 31st).