Unilever, which makes Dove soap, Knorr stock cubes and Ben & Jerry's ice cream, said in February that fourth-quarter sales growth in Southeast Asia had been hurt by shoppers in Indonesia boycotting brands of multinational companies "in response to the geopolitical situation in the Middle East."
Unilever would aim to make its brands "more contemporary" given the "significant societal change" going on. He said he expected to see an improvement in the next six months. Unilever Indonesian business has underperformed for nearly a decade. Investors are unlikely to believe the turnaround this time will be any different storms we've seen in the past?
Unilever's Indonesia unit reported an 18% revenue drop in the third-quarter, driven by a decline in volumes. A revamp of the distribution system was underway to stabilize prices and the group's efforts were already yielding some results.
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