HONG KONG (Yosefardi) – China Minzhong Food Corporation Limited, subsidiary of PT Indofood Sukses Makmur Tbk (INDF), booked earning before interest, tax, depreciation (Ebitda) of RMB312.3 million in second quarter of this year, increased 3.3% from RM302.4 million.
Revenue rose 5.1% to RMB905 million from previous RMB860.9 million, primarily due to increased in sales of RMB37.0 million from cultivation business segment and increased in sales of RMB47.1 million from branded business segment, offset by decreased in sales of RMB40.0 million from processed business segment.
For the 6 months ended 31 December 2013, the Group has started supplying processed vegetables to the Company’s immediate holding company, PT Indofood Sukses Makmur Tbk (INDF). These sales, amounting to RMB1.2 million, were transacted on an arm’s length basis in the ordinary and usual course of business.
Indofood had in October 2013 completed the acquisition over 89.03% stake in China Minzhong for S$85.2 million.