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Unilever's profit slightly up in first half as sales stagnate
PT Unilever Indonesia booked a 5.4 percent increase in profit in the first half of the year, thanks largely to cutting its financial costs.
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Unilever's logo is displayed on the Unilever De Brug building in Rotterdam, Netherlands. (Courtesy of https://www.unilever.com/-)
Consumer goods giant PT Unilever Indonesia has booked a slight increase in profit during the first half of this year as the firm's sales stagnated.
The publicly listed company pocketed to Rp 3.7 trillion (US$264.4 million) in net profit during this year's first six months, up 5.4 percent year-on-year (yoy). Meanwhile, its sales grew only by 1.29 percent yoy to Rp 21.46 trillion from January to June.
Sancoyo Antarikso, Unilever's director of governance and corporate affairs, said in a statement on Thursday that the increase in sales was supported by a positive performance in the home and personal care segment as well as the food and refreshments segment.
"We continue to create new innovation to our products in order to capture our consumers' aspirations," he said in the statement.
Such efforts translated into the company's many new products as well as new brands announced in the second quarter of this year.
At the same time, the local arm of Anglo-Dutch company Unilever managed to reduce its costs to boost the firm's financial performance.
As of June, the company reduced its marketing and sales expenses by 2 percent yoy to Rp 3.94 trillion, while its financial costs were significantly reduced by 37.95 percent during the period.
