Jakarta. Fast-moving consumer goods giant Unilever Indonesia (UNVR) reported a net profit of Rp 4.8 trillion ($306.4 million) in 2023, about Rp 500 billion less than the profit recorded a year earlier.

The company’s net sales also fell to Rp 38.6 trillion in 2023 from Rp 41.2 trillion in the prior year.

Unilever’s latest financial report showed a 7.7 percent decline in household and body-care products, which stood at Rp 25.1 trillion against the Rp 27.2 trillion sales in 2022.

Sales in its food and beverage lines were down slightly to Rp 13.46 from Rp 13.96 trillion. 

However, newly-appointed CEO Benjie Yap maintains confidence in a public filing on Wednesday.

“Our businesses began to pick up growth in the third quarter of 2023, with domestic sales increasing by 3.3 percent,” Benjie said. “Our consistent efforts to navigate the crisis showed positive results in January 2024. We continue to focus on our long-term growth.”

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