unilever indonesias shares declined in early asian trade friday after it reported weak fourthquarter earnings and disappointing profit margins the indonesialisted fast moving consumer good producers shares fell as much as 69 to 4580 indonesian rupiah a day after it reported earnings they were last 67 lower at idr4590 unilever indonesia reported thursday that its fourthquarter net profit fell 45 on year to idr753 billion 497 million and that its profit margins fell to an alltime low during the period the results likely disappointed investors leading to a negative share price reaction said citi analyst lakshmi rowter in a note we think the market was already ready to turn bullish on unilever indonesia given its exposure to massmarket consumption which should see recovery this year but we think share price decline is inevitable with consensus significantly cutting forecasts she added however she noted that the earnings were within citis expectations citi lowered its 20232024 earningspershare estimates by 80 to factor in the companys weak profit margins and cut its target price idr4750 from idr4900 the us investment bank maintained a neutral rating on the shares