Indofood, ICBP book double-digit growth in first half of 2020

first_imgAgribusiness sales rose 7 percent yoy to Rp 6.88 trillion from January to June. The relaxation of lockdown measures in several countries in the second quarter of the year boosted crude palm oil prices during the period, Kontan reported.Although sales in the firm’s wheat manufacturing segment, Bogasari, contracted 4.5 percent yoy to Rp 11.08 trillion, its consumer-branded product sales managed to record positive growth during the period.Consumer-branded products, which include famous instant noodle brand Indomie operated by ICBP, recorded 4.15 percent yoy growth during the first six months of the year to Rp 23.05 trillion as the sale of instant noodles, the company’s biggest contributor, increased 6.31 percent yoy to Rp 15.49 trillion.The growing top line during the period, however, was mainly supported by its strong sales in the first quarter of the year as sales in the second quarter were slower, Mimi said.“We note that ICBP’s top line in the second quarter of this year also got hit by the sluggish economic activities due to the implementation of large-scale social restrictions (PSBB),” she said, adding that the company’s revenue from March to June saw a quarterly contraction of 8 percent.The PSBB were implemented in most regional administrations across the country as part of efforts to curb the spread of the coronavirus. The measures forced non-essential businesses to shutter their doors and saw millions face unemployment.Despite the weaker sales in the second quarter, ICBP still managed to book Rp 3.38 trillion in profit throughout the first quarter, a jump of 31.4 percent yoy.Anthoni, the former CEO of ICBP, said that the firm would also focus on maintaining the health of its employees and preserve product quality for its customers.“We will also improve our ability to adapt swiftly to the ever-changing market dynamics,” he said.Read also: Investors wary of Indofood CBP’s acquisition of noodle maker PinehillIn the meantime, ICBP has announced that its shareholders have consented to its plan to acquire all of the shares of Pinehill Company Limited (Pinehill Group), which supplies Indomie to the Middle East, Africa and Serbia.Corporate secretary Gideon A. Putro said in February that the company responded to its British Virgin Island affiliates, Pinehill Corpora Limited and Steele Lake Limited, on an offer to acquire Pinehill Group.Pinehill Group’s core business was manufacturing instant noodles in Saudi Arabia, Nigeria, Turkey, Egypt, Kenya, Morocco and Serbia under the “Indomie” brand licensed by ICBP’s parent company, Indofood.Indofood’s share price, traded under the code INDF, had gained 4.44 percent to Rp 7,025 as of 2:38 p.m. on Wednesday. Meanwhile, ICBP’s share price went up by 4.74 percent from the day before to Rp 10,500. Topics : “We expect this challenging situation to continue until the second half of the year, so we will continue to maintain supplies and product quality for our clients,” he said in a statement.Mirae Asset Sekuritas analyst Mimi Halimin said that she had expected the solid performance early in the year.“Indofood’s revenue in the second quarter of this year was quite resilient as it was supported by the recovery of its agribusiness segment,” she said.Read also: Consumer goods firms grow in Q1 amid economic crisis Food manufacturing giant PT Indofood Sukses Makmur and its subsidiary, processed food company PT Indofood CBP Sukses Makmur (ICBP), have managed to book double-digit profit growth in the first half of the year thanks to an increase in sales and a drop in production costs.Indofood booked an 11.7 percent year-on-year (yoy) increase in profit to Rp 2.8 trillion (US$195 million) in the first half of 2020. The rise in profit during the period was in line with the firm’s sales, which rose 2 percent to Rp 39.4 trillion, while cost of goods sold declined 1.2 percent to Rp 26.9 trillion.Indofood president director and chief executive officer Anthoni Salim said Tuesday that the company managed to maintain a positive performance despite the global challenges caused by COVID-19.last_img read more

Arsenal transfer target Willian speaks out on ‘difficult’ Chelsea situation

first_imgArsenal transfer target Willian speaks out on ‘difficult’ Chelsea situation Comment Metro Sport ReporterSaturday 23 May 2020 11:53 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link5.7kShares Advertisement Advertisement Willian returned to training earlier this week along with the majority of Chelsea’s first team squad (Picture: Getty)‘The situation is difficult because of this. I really don’t know if it will be possible [to stay]. ‘My goal is to continue working and focus on the remainder of the season, so that Chelsea can continue winning games.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘I have a clear head and I’m focused for the rest of the season that we have left. I think it’s difficult [to stay]. Let’s see what happens.’Chelsea, meanwhile, tied two of their most experienced players, Olivier Giroud and Willy Caballero, to new one-year deals earlier this week. MORE: What Sir Alex Ferguson told ‘great’ Manchester United squad ahead of Chelsea Champions League winMORE: Ruben Loftus-Cheek’s first kit was Arsenal as Chelsea star loved Thierry HenryFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Willian’s current Chelsea contract is set to expire at the end of June (Picture: Getty)Chelsea star Willian insists the club’s refusal to offer him a three-year contract extension has left him in a ‘difficult’ situation ahead of next month’s potential Premier League resumption. The experienced Brazil international has just over a month remaining on his current deal but has intimated he will sign a short-term deal that would see him through until the end of the current season, before becoming a free agent. Arsenal, who have ties with Willian’s representative Kia Joorabchian through head of football Raul Sanllehi and technical director Edu, have emerged as a the front-runners to sign the 31-year-old who is keen to remain in London.AdvertisementAdvertisementTottenham, whose manager Jose Mourinho still holds Willian in high esteem, are also monitoring the former Shakhtar Donetsk winger’s situation, but for now the player is focusing on attempting to help ensure Chelsea cement their top four position in the league, before contemplating his long-term future. ADVERTISEMENT‘It’s a difficult situation because Chelsea offered me two years and they are not going to change what they offered. I said I wanted three more years,’ the winger told Brazilian outlet Esporte Interativo.last_img read more

Exclusive: Christian party deal in Botany – National’s big hope?

first_imgNewsTalk ZB 17 May 2019Family First Comment: “… the coalition Government in office is pushing a number of controversial issues, like liberalising abortion, marijuana, gender ideology in schools, euthanasia and Jacinda Ardern’s condemnation of Israel Folau which he says doesn’t sit well with the Pacific community…”The coalition lifeline that National will need if it’s to have a chance at the next election looks set to come in the form of a Christian party led by one of its own, former Cabinet Minister Alfred Ngaro.Talk within the party’s been rife for weeks now with Ngaro’s plan being well received and with the possibility of National standing aside, possibly in the Botany seat, where it has the strongest party vote by far.The seat’s currently held by rebel independent MP Jami-Lee Ross who himself can’t take credit for the party vote. It was entrenched when the electorate came on to the political map in 2008 when it was won by Pansy Wong who, like the ignominious departure of Ross, also left in a blaze of publicity in 2011 over the misuse of Parliamentary travel expenses.There’s a lot of Christian money in the electorate. It has a good number of Pacific Island churches in Otara to the west, a sizeable, conservative, Christian South African community and a significant number of Koreans and Taiwanese Christians.Family First’s Bob McCoskrie has shared a podium with Ngaro on a number of occasions, as recently as this week. He says there’s definitely a gap in the choice facing the voter wanting to cast their ballot for a morally conservative party.McCoskrie says the coalition Government in office is pushing a number of controversial issues, like liberalising abortion, marijuana, gender ideology in schools, euthanasia and Jacinda Ardern’s condemnation of Israel Folau which he says doesn’t sit well with the Pacific community.As for National standing aside in Botany, he says the choice for the voters there is clear.“If they can understand the bigger picture, and understand if they want a centre right government they may need to hold their noses and vote for a candidate who they normally wouldn’t vote for. They will vote because they know that the party that candidate represents will go into coalition with National and get them across the line.”If Ngaro managed to pull it off and win in Botany and scraped up 3 per cent of the party vote he could expect another three seats in Parliament. In the first MMP election the Christian Coalition got 4.6 per cent of the vote and in 2014 Colin Craig’s Conservatives got just on 4 per cent before it crashed and burned on the eve of the ballot after his press secretary Rachel McGregor resigned.McCoskrie says there’s definitely a constituency out there looking for a party that Ngaro could represent and National certainly needs a lifeline.READ MORE: https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/barry-soper-national-needs-friends-is-alfred-ngaro-the-answer/Alfred Ngaro to set up Christian conservative party – reportNewsHub 17 May 2019 Judith Collins says she wasn’t aware of rumours her colleague Alfred Ngaro might be quitting the party to form his own.NZME reported on Friday the former Cabinet minister is planning to lead a new Christian conservative party, potentially providing National with another coalition partner at next year’s election.The plan works like this: National won’t run a candidate in the Botany electorate, currently held by rogue former National MP Jami-Lee Ross. Instead they’d encourage voters to give Ngaro the tick, in much the same way they currently prop up ACT in Epsom.“We do get MMP,” Collins told The AM Show on Friday, saying it’s the first she’s heard of the alleged plan. “We’ve got MMP around Epsom for instance, over the years. There’s a lot of rumour and speculation, but look – I’d say it’s an interesting idea.”Ngaro reportedly has one high-profile Conservative firebrand on his side – Family First director Bob McCoskrie, who told NZME there’s a gap in the market for a Christian party, citing unease over changes to legislation around euthanasia, cannabis and abortion, as well as Prime Minister Jacinda Ardern’s condemnation of homophobic rugby star Israel Folau.READ MORE: https://www.newshub.co.nz/home/politics/2019/05/alfred-ngaro-to-set-up-christian-conservative-party-report.htmlCould a Christian party be National’s saviour?Otago Daily Times 17 May 2019The coalition lifeline that National will need if it’s to have a chance at the next election looks set to come in the form of a Christian party led by one of its own, former Cabinet Minister Alfred Ngaro.Talk within the party’s been rife for weeks now with Ngaro’s plan being well received and with the possibility of National standing aside, possibly in the Botany seat, where it has the strongest party vote by far.The seat’s currently held by rebel independent MP Jami-Lee Ross who himself can’t take credit for the party vote. It was entrenched when the electorate came on to the political map in 2008 when it was won by Pansy Wong who, like the ignominious departure of Ross, also left in a blaze of publicity in 2011 over the misuse of Parliamentary travel expenses.Family First’s Bob McCoskrie has shared a podium with Ngaro on a number of occasions, as recently as this week. He says there’s definitely a gap in the choice facing the voter wanting to cast their ballot for a morally conservative party.McCoskrie says the coalition Government in office is pushing a number of controversial issues, like liberalising abortion, marijuana, gender ideology in schools, euthanasia and Jacinda Ardern’s condemnation of Israel Folau which he says doesn’t sit well with the Pacific community.As for National standing aside in Botany, he says the choice for the voters there is clear.“If they can understand the bigger picture, and understand if they want a centre right government they may need to hold their noses and vote for a candidate who they normally wouldn’t vote for. They will vote because they know that the party that candidate represents will go into coalition with National and get them across the line.”READ MORE: https://www.odt.co.nz/news/national/could-christian-party-be-nationals-saviour National needs friends … Is former Cabinet Minister Alfred Ngaro the answer?NZ Herald 17 May 2019 The coalition lifeline that National will need if it’s to have a chance at the next election looks set to come in the form of a Christian party led by one of its own, former Cabinet Minister Alfred Ngaro.Talk within the party’s been rife for weeks now with Ngaro’s plan being well received and with the possibility of National standing aside, possibly in the Botany seat, where it has the strongest party vote by far.The seat’s currently held by rebel independent MP Jami-Lee Ross who himself can’t take credit for the party vote. It was entrenched when the electorate came on to the political map in 2008 when it was won by Pansy Wong who, like the ignominious departure of Ross, also left in a blaze of publicity in 2011 over the misuse of Parliamentary travel expenses.Family First’s Bob McCoskrie has shared a podium with Ngaro on a number of occasions, as recently as this week. He says there’s definitely a gap in the choice facing the voter wanting to cast their ballot for a morally conservative party.READ MORE: https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12231733last_img read more

NFA-Kalibo to buy ‘palay’ at higher price

first_imgNFA-Aklan provincial manager Josephine VenusCastillo assured farmers that the food agency is buying too, wet palay or locally known as “eabtong” with30-percent moisture content at P14 per kilogram from farmer cooperatives. The palay-buyingactivity of the NFA aims to lower retail price of rice and to maintain itslocal palay procurement operations. Stocks of locally-produced palay are also available at thewarehouse, ready for milling. “Farmers or cooperatives in the provincecan bring their palay directly to theNFA warehouse at Linabuan Sur, Banga, Aklan, or the NFA could go to theirrespective areas to buy their produce provided they notify the NFA earlier andshow their sample of palay grains,”she said. KALIBO, Aklan – The National FoodAuthority (NFA) here is ready to buy clean and dry palay from local farmers with 14-percent moisture content at P19.00per kilogram.center_img Castillo, meanwhile, assured Aklanonsenough stocks of imported rice in their warehouse, which now sold at P27.00 perkilogram. Castillo said farmers can sell theirproduce for a maximum of 200 bags to the NFA. She said the imported rice is safe forhuman consumption, with stocks only targeted to stay until Oct. 10, 2019,thereafter, these will be replaced with local produce. (With a report from PNA/PN)last_img read more

Rushing the Floor

first_imgA lot has been made of the fans rushing the floor after Kansas State upset Kansas at a recent basketball game.  The mob-like scene on the floor almost crushed an older gentlemen who fell to the floor, and it is reported that some over enthusiastic fans tried to assault a Kansas ball player caught in the melee.What should the college and high school athletic departments do to stop the practice of rushing the floor after a big win by the home team?  I think the easiest solution is to train the crowd control personnel to form some type of line to funnel the fans into a central location on the floor.  This allows the opposing team to exit and keeps the fans from pushing people into the sideline tables.  The Kansas State Athletic Department admitted that their personnel were slow in reacting and could not get the funnel formed in time.  It is reported by them that this was the first time the crowd control people failed to stop the crowd.The above incident is unfortunate, but what I don’t want to see is the threat of forfeiture for the winning team if the crowd gets out of control.  Fans have to be allowed to show their enthusiasm, but we don’t want to see anyone get hurt.last_img read more

Ferguson in match-fixing scandal

first_imgRelatedPosts No directive to constitute disciplinary committee against us — Ojudu, others ‘Army Officer’ in EFCC net for alleged multiple fraud COVID-19: NCAA to revoke erring airlines licence over non-compliance Sir Alex Ferguson fixed a Manchester United match with a corrupt football agent who then gifted the legendary manager a £30,000 gold Rolex watch, a court heard on Thursday.Giuseppe “Pino” Pagliara, 64, made the claims about a Champions League game against Italian giants Juventus to an undercover reporter posing as a businesswoman looking to invest in football during a secretly recorded meeting, jurors were told.He also claimed that Ferguson trousered money from transfer deals, Southwark Crown Court heard.Pagliara and fellow agent Dax Price tried to “impress” Claire Newell by arranging meetings with former England coach Steve McClaren, ex Spurs boss Harry Redknapp and footballer Kanu, prosecuter Brian O’Neill QC told Southwark Crown Court.He said Pagliara claimed that “99 per cent of the people in football if they weren’t in football would be selling second-hand cars.”Pagliara was said to be“furious” with Redknapp for suggesting the reporter should buy a football club instead of using a legal loophole to get around a ban on third party ownership of players in England during a meeting in July 2016, the court heard.Describing another meeting, O’Neill said: “Towards the end of the meeting Pagliara launched into what could only be described as a diatribe of Sir Alex Ferguson, accusing him of having conspired with Pagliara to fix the result of a football match between Juventus, a club which Pagliara was associated with, and Manchester United in the Champions League for which Pagliara had thanked him with a gold 30 grand Rolex watch.”last_img read more

Wenger: I want to stay forever

first_imgArsene Wenger believes he was right to turn down the likes of Bayern Munich, Real Madrid, Paris St Germain and even the England job to stay on as Arsenal manager for 17 years – and would welcome ending his coaching career at the Emirates Stadium. The Frenchman, who will turn 64 next month, has received the full backing of owner Stan Kroenke as his young team look to deliver a first trophy since 2005 with the London club embarking on what they hope will be a new chapter backed by increased financial resources, which helped secure the record £43million signing of Mesut Ozil from Real Madrid. Following the disappointment of an opening-day 3-1 home defeat by Aston Villa, Wenger has since guided Arsenal safely into the group stages of the Champions League, to the top of the Barclays Premier League table and on Wednesday night saw the next generation come through a penalty shoot-out in the Capital One Cup at West Brom. Press Association “I want to feel that I do well and then the question of me staying will be secondary after that.” The arrival of the relatively unheralded former Monaco and Nagoya Grampus Eight coach was met by headlines of “Arsene Who?” when he succeeded Bruce Rioch in September 1996. Wenger, though, has no intentions of revelling in a bit of nostalgia ahead of what is set to be a testing encounter at the Liberty Stadium. ”Our job has a good advantage – you just look forward to the next game,” he said. Arsenal head to Swansea looking to stay top of the table after four straight league wins. Former Cardiff midfielder Aaron Ramsey is set to have a fitness test on a thigh problem, as is Mathieu Flamini (shoulder). England forward Theo Walcott, meanwhile, faces more than a month of rehabilitation after a minor procedure on an abdominal problem. Last season, Arsenal battled to a 2-2 draw at Swansea in the FA Cup third round, before going through on a replay, and then won 2-0 in Wales when the home side had just celebrated winning the Capital One Cup. “Swansea are a team now where the level of expectation is higher than the year before, so of course everybody wants them to be performing in the top seven or eight, what I think they have the quality to do,” said Wenger, whose side were beaten 2-0 at home by Swansea in their Premier League game on December 1. “Overall they buy well, they play attractive football. Swansea is a very, very good team.” Wenger remains relaxed about his own long-term future, but made it clear he would have no issue with signing on again for the Gunners. “Yes I turned many offers down because I rate what I’ve got here and I always thought that this club is special on that front. In our job it is important to know what you want and I rated the qualities that this club has always shown,” said Wenger, who takes his side to Swansea for Saturday afternoon’s late kick-off. “I am very grateful to this club because during the 17 years we had ups and downs. They have always shown a big faith in me and they always let me do the job like I thought it had to be done, and if I am still here today it is because I got that consistent support from inside the club. “Honestly, I would love to be here forever because that would mean I would be immortal! I am (though) not naive enough to believe that. What I would like to do as long as I am here is give my best for this club because I love this club, of course.” Wenger added: “I am very honoured to have the support of Stan Kroenke. That he thinks I can help the club is a huge confidence vote. That is something for me that is very positive.” On the continuing negotiations, he said: “(We will do it) when we find time. I don’t think that is the most important problem at the moment. “The good thing with me, if I have one quality, (it is that) you don’t need a lot of talks to extend the contract I have. “I want to focus on the quality of our season. last_img read more

Guangzhou Evergrande claim Chinese Super League title

first_imgShanghai, Dec 1: Guangzhou Evergrande coached by Italian World Cupper Fabio Cannavaro won the top football competition in China on Sunday, sealing their eighth Super League title in nine years in the last game of the season with a 3-0 win over Shanghai Shenhua. It has been a disputed season that has seen the team battle it out against Beijing Guoan, which trailed the champions by just two points. Beijing Guoan, under the management of Bruno Genesio, beat Shandong Luneng 3-2 on Saturday in a nail-biting contest. IANS Also Read – Meghalayan mid-fielder Phrangki Buam joins ISL side FC Goa Also Read: Philippines’ Agatha Wong bags gold in wushu events in SEA GamesAlso Watch: Watch | Congress former MLA Surender Kumar’s blunder video saying “Priyanka Chopra Zindabad”last_img read more