Jul 30, 2010

Astra 1H net profit rises 52%

Indonesian multinational company PT Astra International Tbk (ASII) reported the net profit grew 52% in first half of 2010 to Rp6.7 trillion from Rp4.2 trillion.
The higher net profit support by subsidiaries contribution especially in automotives sectors and mining. Total car sales in H1 rose 76% compare to last year to 208,000 units. Meanwhiles, motorcycle sales grew 41% to 3.6 million units. 
Distributir of Komatsu heavy equipment PT United Tractors Tbk (UNTR) in 1H 2010 booked net profit Rp1.9 trillion or rose 59.5% than last year. 
Heavy equipment sales of UNTR’s subsidiaries PT Komatsu Indonesia in 1H 2010 grew 95% from 1H 2009 to 2,700 units. 
Net sales of Astra Groups reported Rp61.9 trillion or grew 38% from Rp44.7 trillion and operating profit rose 13% to Rp6.7 trillion. CPO’s producer PT Astra Agro Lestari Tbk (AALI) net profit down 17.40% from Rp770 billion to Rp636 billion and net revenue down 1% to Rp3.54 trillion to Rp3.52 trillion. 
PT Astra Otopart Tbk (AUTO) net profits rose 81% to Rp569 billion. Net profit of solutions provider, PT Astra Graphia (ASGR) reported grew 71% to Rp44 billion. 
Other business like infrastructure and logistic sectors also booked net profit Rp179 billion or grew 39%. Credits of financial institution subsidiaries like PT Federal International Finance, Astra Credit Companies and Toyota Astra Financial Services reported rose 54% to Rp20.8 trillion.

Disclosure: No position at stocks mentioned above.

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