JAKARTA. One of the biggest conglomerates in Indonesia, Astra International Tbk, has reported lower revenue and lower net profit for January-September, by 8 percent and 17 percent respectively, as its automotive sales dropped by 20 percent confirming the slowing economy. Based on its latest corporate earnings report, Astra recorded a consolidated net profit of Rp 12 trillion (US$876 million), down 17 percent year-on-year (yoy) from Rp 14.5 trillion in the same period of 2014. Their revenue dropped to Rp 138.18 trillion. “The challenging business situation that Astra group is facing continues and we predict the performance of all our business lines will not change significantly for the rest of the year,” said president director of Astra International Prijono Sugiarto in a press statement on Thursday.
Astra reports lower car sales, profit
JAKARTA. One of the biggest conglomerates in Indonesia, Astra International Tbk, has reported lower revenue and lower net profit for January-September, by 8 percent and 17 percent respectively, as its automotive sales dropped by 20 percent confirming the slowing economy. Based on its latest corporate earnings report, Astra recorded a consolidated net profit of Rp 12 trillion (US$876 million), down 17 percent year-on-year (yoy) from Rp 14.5 trillion in the same period of 2014. Their revenue dropped to Rp 138.18 trillion. “The challenging business situation that Astra group is facing continues and we predict the performance of all our business lines will not change significantly for the rest of the year,” said president director of Astra International Prijono Sugiarto in a press statement on Thursday.