Astra back in the black

Astra back in the black

JAKARTA (JP): Publicly listed PT Astra International reported
on Monday a consolidated net profit of Rp 496 billion (about
US$66 million) in the first half of this year, a meaningful
recovery from losses of Rp 2.85 trillion in the same period last
year.

The turnaround resulted mainly from the appreciation of the
rupiah's value against the U.S. dollar, from Rp 14,900 per dollar
on June 30, 1998, to Rp 6,726 per dollar this year, the company
said in a statement.

The company's total net revenues declined to Rp 6 trillion
from Rp 7.2 trillion, partly due to the sale of one of its
business units and share dilution in another business subsidiary
last year.

The company's automotive business division generated Rp 4
trillion in net revenues during the first half, up 18 percent
from Rp 3.39 trillion the previous year.

While revenue from the agribusiness division amounted to Rp
429.5 billion, a 29 percent increase from Rp 332.87 billion the
previous year.

The widely diversified Astra also operates several other
business divisions in information technology, consumer goods,
heavy equipment, timber industry and financial services. (udi)