New Kijang van pushes up Astra revenues

New Kijang van pushes up Astra revenues

JAKARTA (JP): The country's largest automaker PT Astra
International reported an impressive result in the first semester
of this year on the back of increased demand for Toyota Kijang
and Honda motorcycles, the company said.

The company announced yesterday that its net profit increased
91 percent to Rp 349 billion (US$151.53 million) in the first
semester this year from Rp 183 billion in the corresponding
period last year.

Net revenue rose 11.6 percent to Rp 7.64 trillion in the
January to June period from Rp 6.84 trillion in the same period
last year.

The automotive division contributed 77.7 percent to the
company's revenue, financial services division 10 percent,
electronics and consumer goods 2.9 percent and heavy industries
division 1.1 percent.

The company said heavy industries' contribution declined in
the first semester because it no longer consolidated PT United
Tractor, one of its subsidiaries.

Of the automotive division's 77.7 percent contribution, Astra
four-wheel vehicles, which include Toyota, Isuzu, BMW, Peugeot,
Daihatsu and Nissan, accounted for 54.8 percent, rising from 45.5
percent the previous year.

Honda motorcycle sales contributed about 19.3 percent and
components 3.5 percent.

The company said sales in the domestic car market increased 31
percent to 200,000 in the first semester this year. Of these,
Astra International sold 96,400 vehicles, a 26 percent increase
from the first semester last year.

The increase in Astra's car sales mainly resulted from the
increased demand of new Kijang and Isuzu Panther vans, the
company said.

Astra International estimated total car sales would reach
400,000 this year, of which Astra products would contribute about
200,000.

Astra International also said yesterday the domestic
motorcycle market was 858,900 in the January to June period this
year with Astra International selling 411,750 motorcycles.

The company expected the sales of its Honda motorcycles would
reach 900,000 by the end of this year, out of a total market of
1.8 million motorcycles.

The company would also plan to float shares of its
subsidiaries -- PT Bank Universal, PT Astra Argo Lestari and PT
Astra Dian Lestari -- on the local exchanges.

Bank Universal and car-component producer PT Astra Dian
Lestari will make their capital debut later this year, while
Astra Agro Niaga early next year.

Astra Agro Niaga is licensed to develop 300,000 hectares of
crude oil palm estates in Sumatra and Kalimantan. (aly)