UNVR — Lowest profit in a decade due to weak consumer purchasing power

UNVR — Lowest profit in a decade due to weak consumer purchasing power Unilever Indonesia (UNVR) reported its lowest profit in a decade in 1H24, with a net profit of IDR2.46 tn (-10.6% yoy). UNVR's sales dropped by 6.15% yoy to IDR19.04 tn, impacted by decreased demand across its household, personal care, and food and beverage segments. Despite cost-cutting efforts that reduced COGS by 5.89% yoy, UNVR's gross profit fell to IDR9.46 tn (-6.42% yoy). The decline in sales and profit reflects ongoing challenges, including weak consumer purchasing power and increased competition. (Source : Bisnis Indonesia)