JAKARTA: Indonesia's largest auto maker PT Astra International Tbk (ASII) reports a 41.62% increase in net income in the first quarter of this year as net revenue rose.
Astra posted IDR5.07 trillion in net income or IDR1,063 per share in 1Q 2011 from IDR3.01 trillion or IDR744 per share.Operating profit increased 34% to IDR4.34 trillion from IDR3.58 trillion.Astra booked IDR38.69 trillion net revenue, reflecting a 30% growth compared to IDR29.69 trillion."Favourable economic situation, stable inflation rate, and higher commodities prices underpinned Astra Group' performance," said Astra President Director Prijono Sugiarto in a statement obtained by Bisnis today.Contribution of otomotive division to Astra's consolidated net income rose 28% to IDR2.1 trillion. Astra Group sold more cars with 27% growth in 1Q 2010 to 125,000 units, counting 56% national market share, a slight declined from 57% a year ago.The financial division contributed IDR797 billion, a 25% increase, to Astra's net income.Heavy equipment and mining business contributed IDR785 billion, representing a 43% growth. Agribusiness made net income of IDR521 billion to the Astra Group.Infrastructure and logistic and information technologies contributed IDR221 billion and IDR17 billion. Astra International is a 50.11% owned by Jardine Cycle & Carriage Ltd, President Commissioner Budi Setiadharma holds 0.02%, Commissioner Anthony John Liddell Nightingale owns 0.02%, and public holders own 49.85%. (wiw)
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