In today’s briefing:
- Indofood CBP Sukses (ICBP IJ) – FMCG On Track at Home and Abroad
Indofood CBP Sukses (ICBP IJ) – FMCG On Track at Home and Abroad
- Indofood CBP Sukses (ICBP IJ) has weathered the worst of higher raw material prices and is now seeing the benefits of lower input costs, benefiting margins.
- The company is a core beneficiary of pre-election spending as its products are often given as gifts during campaigning. ICBP is also seeing strong performance in its export markets.
- ICBP should increasingly be seen as an emerging market staples player, with globally recognised brands such as Indomie and Chitato. Valuations do not reflect this.
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