Oct 29, 2010

Astra 9M net profit surges 45.86%

Publicly listed auto maker PT Astra International Tbk (ASII) posted a net profit of Rp10.36 trillion or IDR2,560 per share for the period January-September this year, increasing 45.86% from Rp7.1 trillion in the same period last year.
The company will also pay interim dividend as much as Rp470 per share on November 15, 2010. The amount is 62.07% higher than that of last year at IDR290.
The company posted Rp95.03 trillion revenue, surging 34.52% from Rp70.65 trillion. Moreover, the operating profit climbed 9.80% from Rp9.50 trillion to Rp10.43 trillion.
President Director of Astra International Prijono Sugiarto said in a press release today that the improvement in performance was supported by Indonesia’s economic growth in the third quarter this year.
In addition, the company’s performance was boosted by increasing foreign capital inflow and availability of consumer financing with competitive interest rate, although automotive sales declined in September on shorter workdays during the month.
"The company’s performance in the first nine months of this year shows an amazing result and we expect the performance will stay positive through the end of 2010,” Prijono said.
Astra recorded a 18% increase in net assets to Rp47.2 trillion, thus lifting the net asset value per share to Rp11,653.
The ASII-coded share slid IDR350 or 0.62% to close at IDR56,460 in today’s trading, forming a market capitalization of IDR228.5 trillion.

Disclosure: No position at the stock mentioned above.

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