Astra International posts $118.4 million profit

Astra International posts $118.4 million profit

JAKARTA (JP): PT Astra International booked a 45 percent increase in its net consolidated profit to Rp 271 billion (US$118.4 million) in the last nine months of this year, the company said in a statement yesterday.

"The major contributors to the profit were the company's automotive division, providing Rp 218 billion, finance services Rp 28 billion and heavy equipment Rp 14 billion," said the company's public relations manager, Aminuddin.

He said the company's total sale's revenues increased by 39.83 percent to Rp 9.44 trillion during the January-September period, of which Rp 6.7 trillion came from the automotive division, Rp 1.3 trillion from heavy equipment and Rp 643.74 billion from financial services.

The automotive division comprises the Toyota Group which produces Toyota vehicles; Astra Mobil Group which produces Daihatsu, Isuzu, BMW, Peugeot and Nissan Diesel vehicles; Federal Group which produces Honda motorcycles and the Automotive Components Group which manufactures components.

Total sales of the Astra Mobil Group alone in the first nine months reached 153,709 units, up by 23 percent from 125,092 in the corresponding period of last year, while the sales of Honda motorcycles increased by 29 percent to 346,837 units from 268,607 units.

Aminuddin said the stability of interest rates offered by banks and lessors supported the growth of company's sales and profitability.

He said Astra's financial service division increased its revenues by 38 percent to Rp 643.75 billion in the January- September period, most of which was contributed by the Consumer Financing Group and Bank Universal.

The shareholders of Astra, which currently employs 86,000 people, include PT Delta Mustika (holding 10.68 percent), Toyota Motor Corporation of Japan (8.26 percent), Number 6 Enterprises Ltd. (4.87 percent), the International Finance Corporation (4.76 percent) and Bank Ekspor Impor Indonesia (4.16 percent).

Other shareholders are Bogasari Flour Mills (3.78 percent), Yayasan Tunjangan Hari Tua BDN (3.78 percent), Norbax Inc. of Hong Kong (3.52 percent), Arman Investment Utama (2.06 percent), Bank Danamon Indonesia (2.06 percent), Danamon International (2.06 percent), Gajah Tunggal Mulia (2.06 percent), Danareksa Fund Management (1.98 percent), Kashmir Ltd. of Hong Kong (1.84 percent), Anugerah Daya Laksana (1.55 percent), Yayasan Dapenso BNI '46 (1.38 percent), Tri Kirana Investindo Prima (1 percent), RBS Clients UK Nominees of Britain (1 percent), Suryaraya Serasi (0.87 percent) and Morgan Stanley Trust Co. of Hong Kong (0.86 percent).

The remaining 37.44 percent of the shares are listed on the local capital market. (kod)