Indofood Sukses Makmur (INDF), the business arm of the Salim Group, booked a net profit of Rp1.4 trillion in the first quarter (Q1) of 2020, grew 4% year on year (y/y). Its sales only inched up 0.7% to Rp19.30 trillion, while operating expenses declined 2.62% to Rp13.02 trillion. INDF’s assets grew 6.72% to Rp102.66 trillion, of which cash and cash equivalents accounted for Rp16.10 trillion, jumping 81.67% y/y. Its liability amounted to Rp37.5 trillion.
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