Growth of 12% in 3Q18 Sales
ICBP cheered the growth of 12% in sales from IDR8.97 trillion in 3Q17 to IDR10 trillion in 3Q18. The sales leveraged from 4% y-y in 1Q18, 6% y-y in 2Q18, and 12% y-y in 3Q18. The acceleration was backed by the noodles segment—contributing 65% to the total sales—posting the growth of 13% in sales from IDR5.7 trillion in 3Q17 to IDR6.4 trillion in 3Q18.
Increment in Gross Profit Margin
Its net profit surged by 26% from IDR950 billion in 3Q17 to IDR1.19 trillion in 3Q18. The steep increase was attributable to the decline in tax expenses from 35% in 3Q17 to 28% in 3Q18. Indeed, its gross profit margin inclined from 31.5% in 3Q17 to 33% in 3Q18. The incline in gross profit margin was backed by the decline in the purchase of finished goods inventories in COGS.
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