Quantcast
Thursday , August 24 2017
Breaking News
Home / International Customs / Indonesia / Unilever Indonesia’s net income surges 9.2% in 2016
Unilever Indonesia’s net income surges 9.2% in 2016

Unilever Indonesia’s net income surges 9.2% in 2016

JAKARTA: Consumer goods giant Unilever Indonesia booked a 9.2 percent increase in net income to Rp 6.4 trillion ($480 million) last year on the back of strong performance in its home and personal care business segment, the company said in a filing to the Indonesia Stock Exchange on Thursday (16/02). The company also booked Rp 40 trillion in net revenue last year, up 9.8 percent from Rp 36.5 trillion the year before.

“In 2016, our overall business performance was quite outstanding, which is supported by our product innovation. Some of them were the launch of the Molto and Sunsilk brands, which have contributed to last year’s performance,” Unilever Indonesia chief financial officer Tevilyan Yudhistira Rusli said in a statement. The home and personal care business segment contributed 69 percent of the company’s total net revenue last year, while the food and refreshment business contributed the remainder.

In the final quarter of last year, the and personal care and food and refreshment business segments grew 10.8 percent and 12.8 percent year-on-year, respectively.

“Although we saw some strengthening of consumer demand in 2016, it has yet to recover the buoyancy of previous years,”  Yudhistira said.

Unilever Indonesia previously set aside €115 million ($120 million) in capital expenditure for factory expansion, especially for the production of home and personal care products.

Unilever’s share price closed 0.41 percent higher at Rp 42,600 on the local bourse on Thursday, compared to the benchmark index that fell by 0.05 percent.