World Grain - June 2012 - 14

newsreview
Indofood profits up nearly 11% in first-quarter
JAKARTA, INDONESIA — PT Indofood Sukses Makmur Tbk announced on April 30 that ﬁrst-quarter net proﬁt was up 10.8% to Rp815.0 billion ($1.02 billion) from Rp735.6 billion. “Despite lower crude palm oil (CPO) and rubber prices, which impacted our Agribusiness Group performance, and demanding market situation for our Consumer Branded Products and Bogasari Groups, we continue to register growth on our bottom line,” said Anthoni Salim, the president director and chief executive ofﬁcer of Indofood. “This demonstrated our strong business model and our resilience to the changing market dynamics.” Core proﬁt increased 10.9% to Rp805.6 billion from Rp726.4 billion in the same period last year. Earnings per share were Rp93. Consolidated net sales grew 9.9% to Rp11.83 trillion, while income from operations grew 0.4% to Rp1.78 trillion. The improvement in sales was contributed by all the Strategic Business Group, namely Consumer Branded Products (CBP), Bogasari, Agribusiness and Distribution. CBP Group continued to lead in sales contribution, followed by Bogasari, Agribusiness and Distribution by contributing 44%, 25%, 23% and 8% respectively to consolidated net sales. The CBP Group, which consists of Noodles, Dairy, Food Seasonings, Snack Foods and Nutrition & Special Foods Division, posted 13.4% growth in total sales value driven by sales growth in almost all divisions within the group. Total sales value of Bogasari Group increased 5.9%, mainly on higher volume. The Agribusiness Group posted 10.2% growth in total sales value primarily driven by higher sales volume of edible oils & fats products. Distribution Group also recorded total sales value growth of 8.1%, partly due to higher sales of CBP Group.

MGPI reports increase in first-quarter income
ATCHISON, KANSAS, U.S. — MGP Ingredients, Inc. (MGPI) reported on May 9 net income of $1.8 million or 10¢ per diluted share for the ﬁrst quarter ended March 31, compared to $700,000 or 4¢ per share in the prior-year period. Gross proﬁt in the ﬁrst quarter was $5.5 million on net sales of $86.3 million compared with gross proﬁt of $6.5 million in the prioryear period on net sales of $64.1 million. Gross proﬁt margin was adversely impacted from the production shutdown in December 2011, but operations showed sequential monthly improvement in this year’s ﬁrst quarter. The company did not gain the full beneﬁt of its new corn sourcing agreement during the quarter because it was ﬁnalized in the last month of the period. First quarter 2012 operating income was also impacted by one-time costs related to the commencement of production at LDI, as well as reorganization expenses.

For more information, see Page 102.

14

June 2012 / World Grain / www.World-Grain.com

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World Grain - June 2012

Table of Contents for the Digital Edition of World Grain - June 2012

World Grain - June 2012
Table of Contents
From the Editor-in-chief - Global food parallels oil refining
Calendar of Events
News Review - Marubeni to acquire Gavilon for $3.6 billion
News Review - CHS buys portion of Brazilian grain export terminal
News Review - Tiger Brands eyes stake in Nigerian mill
News Review - E.U. 2012 wheat output projected at five-year low
News Review - GrainCorp to invest in its logistics systems
News Review - U.S. rice mills shipments up 8% over 2009-10
News Review - Indofood profits up nearly 11% in first-quarter
News Review - MGPI reports increase in first-quarter income
News Review - GrainCorp earnings up 39% on grain results
News Review - Baltic Trading’s net loss increases in first-quarter
News Review - The Andersons reaches first-quarter record on grain results
News Review - Noble’s ag income drops 63% in first-quarter
News Review - Olam profits down 19% in third quarter
News Review - FEFAC, Laurent Bellec partner on feed mill photo project
News Review - Gevo, Land O’Lakes to pursue advanced animal feed
News Review - CHS, Zen-Noh form grain marketing joint venture
News Review - Horizon Milling planning major modernization of Texas mill
Grain Market Review - Wheat
Country Focus - Focus on the United Kingdom
Feature - Rising up from the rubble
Feature - Gone in a matter of seconds
Feature - 2012 IAOM Conference & Expo
Feature - IAOM plans trio of conferences
Milling Operations - Keeping sifters in good working order
Feature - European supplier profiles
Supplier News
Advertiser Index/Faxback Program
World Grain - June 2012 - World Grain - June 2012
World Grain - June 2012 - 2
World Grain - June 2012 - 3
World Grain - June 2012 - 4
World Grain - June 2012 - Table of Contents
World Grain - June 2012 - From the Editor-in-chief - Global food parallels oil refining
World Grain - June 2012 - 7
World Grain - June 2012 - Calendar of Events
World Grain - June 2012 - 9
World Grain - June 2012 - News Review - Tiger Brands eyes stake in Nigerian mill
World Grain - June 2012 - 11
World Grain - June 2012 - News Review - E.U. 2012 wheat output projected at five-year low
World Grain - June 2012 - News Review - U.S. rice mills shipments up 8% over 2009-10
World Grain - June 2012 - News Review - MGPI reports increase in first-quarter income
World Grain - June 2012 - News Review - Baltic Trading’s net loss increases in first-quarter
World Grain - June 2012 - News Review - Noble’s ag income drops 63% in first-quarter
World Grain - June 2012 - News Review - FEFAC, Laurent Bellec partner on feed mill photo project
World Grain - June 2012 - News Review - CHS, Zen-Noh form grain marketing joint venture
World Grain - June 2012 - News Review - Horizon Milling planning major modernization of Texas mill
World Grain - June 2012 - Grain Market Review - Wheat
World Grain - June 2012 - 21
World Grain - June 2012 - Country Focus - Focus on the United Kingdom
World Grain - June 2012 - 23
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World Grain - June 2012 - Feature - Rising up from the rubble
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World Grain - June 2012 - Feature - Gone in a matter of seconds
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World Grain - June 2012 - Feature - 2012 IAOM Conference & Expo
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World Grain - June 2012 - Feature - IAOM plans trio of conferences
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World Grain - June 2012 - Milling Operations - Keeping sifters in good working order
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World Grain - June 2012 - Feature - European supplier profiles
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World Grain - June 2012 - Supplier News
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World Grain - June 2012 - Advertiser Index/Faxback Program
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http://digital.world-grain.com/sosland/wg/2005_02_01
http://digital.world-grain.com/sosland/wg/2005_01_01
http://digital.world-grain.com/sosland/wg/2004_12_01
http://digital.world-grain.com/sosland/wg/2004_11_01
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_02
http://digital.world-grain.com/sosland/wg/2004_10_01
http://digital.world-grain.com/sosland/wg/2004_09_01
http://digital.world-grain.com/sosland/wg/2004_08_01
https://www.nxtbookmedia.com