ICBP - Records profit of IDR7.07 tn

ICBP - Records profit of IDR7.07 tn Indofood CBP Sukses Makmur (ICBP) recorded impressive performance throughout 2024. Quoting from the information disclosure, Tuesday (25/3), ICBP recorded a net profit of IDR7.07 tn in 2024. This achievement increased by 1.27% compared to the same period the previous year, which was IDR6.99 tn. Thus, the basic earnings per share increased to IDR607, up from IDR599. Meanwhile, the company's net sales were recorded at IDR72.59 tn in 2024, up 6.9% yoy from the same period the previous year at IDR67.9 tn. In detail, instant noodle sales were recorded at IDR53.87 tn, dairy at IDR9.66 tn, snacks at IDR4.53 tn, food seasonings at IDR4.3 tn, nutrition and special foods at IDR1.35 tn, and beverages at IDR1.67 tn. The total sales were reduced by elimination costs amounting to IDR2.8 tn. The sales of ICBP from third-party positions were recorded at IDR31.48 tn in 2024 and from related parties at IDR41.1 tn. (Source : Kontan) Comment : ICBP demonstrates consistent growth in both sales and profits, indicating a stable and robust business model. The breakdown of sales by product category highlights ICBP's dominance in the instant noodle market, which is a key driver of its revenue. While the profit growth is modest, it's still positive, and the increased EPS is a good sign for shareholders. In all, ICBP's 2024 financial results are positive, demonstrating steady growth and financial stability. The company's strong market position and healthy financial metrics suggest a favorable outlook for the future.