INDF - Net profit soars to IDR7 tn

INDF - Net profit soars to IDR7 tn Indofood Sukses Makmur (INDF) achieved a significant surge in net profit, reaching IDR7.08 tn (+52.43% yoy) in 9M23. This remarkable growth aligns with a 3.79% yoy rise in net sales, totaling IDR83.89 tn in 9M23. Despite market volatility, INDF still confident in maintaining a balanced market share, profitability, and robust financial position. INDF also highlights stable operating profit of around IDR14.22 tn, maintaining a healthy operating margin of approximately 17.0%. Core profit, reflecting operational performance, sees a 9% yoy increase to IDR7.07 tn for 9M23. INDF operates as a total food solutions company, engaging in all stages of food production. Its operations span four strategic business groups: branded consumer products, Bogasari, agribusiness, and distribution of consumer products.