Analysts Recommend Buying ICBP Despite Early Year Profit Slump

The Q1 performance of the Salim Group issuer, ICBP, was hampered primarily by exchange rate losses. However, analysts in the Bloomberg consensus are still optimistic due to the company's solid operational performance, prompting them to provide a buy recommendation.

Redaksi

15 Mei 2024 - 17.53
A-
A+
Analysts Recommend Buying ICBP Despite Early Year Profit Slump

Bisnis, JAKARTA — The primary reason for the decline in profits of PT Indofood CBP Sukses Makmur Tbk. in the Q1 2024 was attributed to the weakening of the rupiah exchange rate. However, excluding this factor, the performance of the Salim Group issuer has demonstrated significant growth, rendering its shares appealing for investment.

According to its financial report, the issuer, with the share code ICBP, recorded a profit of IDR 2.35 trillion for the current period in the Q1 2024. This reflects a 40.5% year-on-year (YoY) decrease compared to IDR 3.95 trillion in the corresponding period the previous year.

Despite the decline in profit, the company demonstrated an improvement in its top-line performance, with total revenue reaching IDR 19.92 trillion. This represents a 4.1% YoY increase compared to IDR 19.14 trillion in the Q1 2023.

Breaking down the revenue sources, sales in the instant noodle segment contributed IDR 14.67 trillion, marking a 4.74% YoY increase. Additionally, dairy products contributed IDR 2.76 trillion (2.59% YoY growth), while snack products contributed IDR 1.16 trillion (2.57% YoY growth).

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Jaffry Prabu Prakoso
Jelajahi peluang bisnis terpercaya dengan berlangganan
Temukan keleluasaan dan keuntungan maksimal dengan pilihan paket berlangganan eksklusif ini
BERLANGGANAN SEKARANG
Tidak Memerlukan Komitmen, Batalkan Kapan Saja
Penawaran terbatas. Ini adalah penawaran untuk Langganan Akses Digital Dasar. Metode pembayaran Anda secara otomatis akan ditagih di muka setiap empat minggu. Anda akan dikenai tarif penawaran perkenalan setiap empat minggu untuk periode perkenalan selama satu tahun, dan setelah itu akan dikenakan tarif standar setiap empat minggu hingga Anda membatalkan. Semua langganan diperpanjang secara otomatis. Anda bisa membatalkannya kapan saja. Pembatalan mulai berlaku pada awal siklus penagihan Anda berikutnya. Langganan Akses Digital Dasar tidak termasuk edisi. Pembatasan dan pajak lain mungkin berlaku. Penawaran dan harga dapat berubah tanpa pemberitahuan.
BIG MEDIA
Jalan K.H. Mas Mansyur No. 12AKaret Tengsin - Jakarta Pusat 10220
© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.
BIG MEDIA
Jalan K.H. Mas Mansyur No. 12AKaret Tengsin - Jakarta Pusat 10220
© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.