Astra returned to the black in 2001<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Leading car maker PT Astra International Tbk returned to the
\nblack last year after suffering a net loss of Rp 293 billion
\n(about US$29 million) in the previous year.<\/p>\n
The company, which is also involved in agribusiness, financial
\nservices, the timber industry, information technology, and heavy
\nequipment, said in a statement on Tuesday that its unaudited
\nprofit reached Rp 853 million last year on the back of strong
\nsales in its automotive division.<\/p>\n
Sales rose by six percent to Rp 30.1 trillion last year from
\nRp 28.4 trillion in 2000, while operating profit increased to Rp
\n2.68 trillion from Rp 2.58 trillion.<\/p>\n
The company is 32-percent owned by Singapore-based auto
\ndistributor Cycle & Carriage Ltd.<\/p>\n
Its shares edged down Rp 25 to close at Rp 2,725 on Tuesday.<\/p>\n
Besides the strong sales, the company also attributed the 2001
\nprofit to the weakening of pressure from foreign exchange losses
\nthat year. It suffered Rp 985 billion in foreign exchange losses
\nthat year, as opposed to Rp 2.52 trillion in the previous year.<\/p>\n
The rupiah ended at Rp 10,400 to the U.S. dollar by the end of
\nlast year, as opposed to Rp 9,380 by the end of 2000.<\/p>\n
The company said that 84.9 percent of its consolidated net
\nprofit came from the automotive division, with car sales
\naccounting for 4.1 percent of the profit, motorcycle sales 10.3
\npercent, and automotive components 6.3 percent.<\/p>\n
The agribusiness division accounted for 4.7 percent of the net
\nprofit, financial services 4.1 percent, the timber division 2.9
\npercent, information technology 2.4 percent, and heavy equipment
\n1 percent.<\/p>\n
With its Toyota, Isuzu, Daihatsu, BMW, Peugeot cars, and
\nNissan trucks, Astra controlled 46 percent of the country's four-
\nwheeled vehicle market, which recorded total sales of 299,629
\nunits last year.<\/p>\n
\"Toyota is the best-selling brand in 2001, with a market share
\nof 26.7 percent,\" the company said.<\/p>\n
The company also reported a record sale of 932,178 units for
\nits Honda motorbike last year, a 95.5 percent increase from
\n476,887 units in the previous year.<\/p>\n
It said that the Honda motorbike achieved the feat thanks to
\nthe launching of the Legenda motorbike, which has a better
\nquality, in addition to being more affordable to the public.<\/p>\n
\"The market share of the Honda motorbike rose to 52 percent in
\n2001 from 45 percent in 2000,\" it said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/astra-returned-to-the-black-in-2001-1447893297",
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