JAKARTA: A food company PT Tiga Pilar Sejahtera Food Tbk has started to harvest revenue from its rice business in first quarter this year.The rice business posted IDR109.06 billion revenue or contributed 31.19% of its consumer product revenue amounting to IDR349.68 billion.A research from PT Pemeringkat Efek Indonesia published on January 27, 2011 said that the company is full with fuel to grow years ahead following its plans for not just relying on food business but also palm oil plantation and rice distribution business.Nowadays, almost all of the 237.6 billion Indonesians consume rice as their main food. With this large market, the rice distribution business offers good prospect. During 20072009 period, the monthly average expenditure per capita on rice increased from IDR35,874 per capita in 2007 to IDR38,122 per capita, or grew by 3.12% year-on-year.Tiga Pilar reported a 299.83% jump in net income on the back of strong growth in net sales in the first quarter of this year. Net income soared to IDR23.15 billion or IDR.84 per share in first quarter 2011.The AISA-coded stock gained IDR20 or 3.03% to IDR680 at the Jakarta Stock Exchange as of 3.04 p.m. local time. (NOM)
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