JAKARTA - PT Unilever Indonesia Tbk (UNVR) posted a 6.53% increase in net profit to Rp 1.8 trillion in the first quarter (Q1) of 2020.
The hike was driven by the company's net sales of Rp 11.15 trillion in Q1/2020, up 4.58% from the same period last year. However, several expenses also increased, such as marketing expenses by 16.97% to Rp 2.35 trillion (Q1/2020) and general and administrative expenses by 18.26% to Rp 1.11 trillion (Q1/2020). The company noted a decrease in income tax expenses by 18.08% to Rp 581.65 billion (Q1/2020).
According to Unilever Indonesia President Director Hemant Bakshi, innovation was key to the company's positive performance in Q1. "We recorded 21 launches and relaunches across various segments. Such innovations are in line with the company's strategy to remain relevant and competitive going forward," he said. (ARM/MS)