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ICBP – 1Q20 Impression : Stellar Growth along with Margin Expansion

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Putu Chantika
Putu Chantika
Analyst - Consumer, Retail
Putu Chantika
Latest posts by Putu Chantika (see all)
  • ICBP – Supported by Topline Growth - December 20, 2021
  • ACES – Slowdown in 3Q21 Sales - December 7, 2021
  • ERAA – Continue on Growth Path - December 1, 2021

In 1Q20, ICBP recorded strong revenue and earnings supported by excellent performance from all segments, except beverage segment that still showed a decline. However, we project that the ICBP’s income would grow slower in 2Q20 due to declining purchase power and possible distribution issues due to public activities limitation. In addition, ICBP has also approved Pinehill acquisition by signing CSPA on 22 May 2020.

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