Amid weak people's purchasing power, Unilever reaped Rp 6.39t profit last year
The Jakarta Post
Despite the weak purchasing power of local buyers as a result of the economic slowdown, consumer goods giant PT Unilever Indonesia managed to earn more profit last year than it did in 2015.
The local arm of Anglo-Dutch company Unilever NV and plc booked a 9.2 percent rise in net profit in 2016 to Rp 6.39 trillion (US$479.7 million) from a year earlier on the back of bigger sales.
Its net sales climbed by nearly 10 percent to Rp 40.05 trillion as of December last year from the Rp 36.48 trillion recorded in 2015, according to its financial statement published on the Indonesia Stock Exchange’s (IDX) website on Monday.
(Read also: Unilever Indonesia to spend US$121 million in 2017)
Unilever Indonesia also saw a rise in its cost of goods sold of almost 10 percent year-on-year (yoy) to Rp 19.59 trillion last year.
The firm sells a wide range of fast-moving consumer goods under 39 brands that fall under four categories, namely personal care, home care, food and refreshment, and include Dove personal care and Blue Band margarine.
Traded under the code UNVR at the IDX, its stocks ended the first trading session on Monday at 43,625 apiece.
They have gained 12.44 percent of their value so far this year, according to Bloomberg data, outperforming the broader benchmark Jakarta Composite Index’s (JCI) 4.6 percent gain. (lnd)
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