Indofood Sukses Makmur (INDF) Net Profit Shrinks by 31% in the First Half of 2024

July 31, 2024, 11.30 PM | Reporter: Yuliana Hema

ILUSTRASI. PT Indofood CBP Sukses Makmur Tbk (Indofood CBP) kembali memeriahkan ajang Jakarta Fair Kemayoran (JFK) 2024 dengan menghadirkan Rumah Indofood. JFK 2024 hadir dalam rangka memperingati ulang tahun Jakarta yang ke-497 dan tahun ini berlangsung selama 33 hari, mulai 12 Juni hingga 14 Juli 2024.

FINANCIAL REPORT - JAKARTA. The net profit of Salim Group entity, PT Indofood Sukses Makmur Tbk (INDF), has been eroded by 30.76% year-on-year (YoY) to Rp 3.84 trillion throughout the first half of 2024.

In the first half of 2023, the company owned by conglomerate Anthoni Salim was able to record a profit for the period attributable to the parent of Rp 5.56 trillion.

According to the financial report released on Wednesday (31/7), INDF was still able to post a net sales growth of 2.61% YoY to Rp 57.29 trillion from Rp 56.08 trillion as of June 2023.

Indofood was still able to post a business profit growth of Rp 11.85 trillion throughout January–June 2024. This grew 32.65% annually from Rp 8.85 trillion in the first half of 2023.

However, the top-line growth had to be eroded by several expense items. For instance, INDF's financial burden swelled 213.90% YoY to Rp 5.16 trillion from Rp 1.64 trillion.

INDF also still had a final tax on interest income of Rp 143.21 billion or up to 90.80% YoY. In addition, INDF had to bear a net loss of associated entities and joint ventures of Rp 51.29 billion.

Meanwhile, INDF's total assets were observed to expand from Rp 186.58 trillion as of 31 December 2022 to Rp 201.18 trillion as of 30 June 2024. This means an increase of about 7.82%.