ICBP – Expects a boost in performance from Eid al-Fitr and elections

ICBP – Expects a boost in performance from Eid al-Fitr and elections Indofood Sukses Makmur (ICBP) expects a boost in its 1Q24' performance due to Eid al-Fitr and elections. Moreover, with the growing demand and the declining trend of commodity prices such as wheat flour, CPO and sugar, ICBP expects to be able to expand its margins in 2024. Note that, ICBP posted revenue of IDR51.3 tn (+4.90% yoy) and net profit of IDR7 tn (+113% yoy) in 9M23. (Source : Kontan)