Leading food manufacturer PT Indofood Sukses Makmur Tbk (INDF) booked net sales of Rp 15.02 trillion (S$1.5 billion) in the first quarter of 2015, down by 0.1 per cent compared to the same period last year.
INDF president director and Chief Executive Officer (CEO) Anthoni Salim said Indofood CBP, which manufactures consumer branded goods, contributed 52 per cent to sales, followed by Bogasari (25 per cent), Agribusiness (15 per cent) and Distribution (8 per cent).
INDF's overall profits were down by 37.2 per cent to Rp 870.1 billion.
Meanwhile, the net profit margin declined to 5.8 per cent from 9.2 per cent, due largely to exchange rate losses as a result of the depreciation of the rupiah.
Anthoni said by not calculating non-recurring accounts and exchange rate margins, INDF's core profit which reflected its operational work performance grew by 11.6 per cent to Rp 1.05 trillion from Rp 939.9 billion.
"Entering 2015, the domestic economic situation is not yet conducive. In the midst of challenging market conditions and the depreciating rupiah, INDF's operational work performance remains strong as reflected in its core profit," said Anthoni.