Astra International`s profit up 31 pct in 1st semester

"Most of Astra Group businesses performed well in the first semester 2017`" president director of Astra International Prijono Sugiarto said.
Jakarta (ANTARA News) - Publicly-listed company PT Astra International Tbk.s net profit was up 31 percent in the first semester this year to Rp9.4 trillion from Rp7.1 trillion recorded in the same period before.

"Most of Astra Group businesses performed well in the first semester 2017" president director of Astra International Prijono Sugiarto said in an official statement received here on Thursday.

Corporate net profit was up 11 percent to Rp98 trillion in the period following increasing contribution from incomes from most of its business segments.

For the rest of the year Prijono Sugiarto said Astra Group hoped it would get an advantage from the stable price of coal although results of performance could be affected by increasing competition in automotive market and declining demand for motorcycles.

In the first semester this year he said national car market as a whole rose despite pressure from a lot of price discounts due to tighter competition.

Regarding the performance of its financial service businesses he said it improved in line with the profit made again by PT Bank Permata Tbk. Positive performance has also been shown by heavy equipment business as well as agribusiness that has gained profit due to increasing prices of commodities.

He said contribution from each business segment to net consolidated profit of Astra International in the first semester tended to rise.

The groups automotive business net profit rise 62 percent to Rp2 trillion while the net profit of heavy equipment and mining business was up 83 percent to Rp2.1 trillion, agribusiness up 32 percent to Rp832 billiob and property up by 94 percent to Rp68 billion.

The net profit of infrastructure and logistic business was dien 21 percent to Rp110 billion while information technology down 25 percent to Rp55 billion.(*)

Comments