Third Quarter of 2017, Astra International Net Profit Increases 26 Percent
By : Hariyanto And Aldo Bella Putra | Wednesday, November 01 2017 - 17:00 IWST
PT Astra International Tbk (ASII)
INDUSTRY.co.id - Jakarta - In the third quarter of 2017, PT Astra International Tbk (ASII) booked a net profit increase of 26% to Rp14.2 trillion, compared to the same period in the previous year of Rp11.27 trillion.
President Director of ASII, Prijono Sugiarto said as profit, income rose 14 percent to Rp150, 22 trillion compared to the same period the previous year valued at Rp132, 29 trillion.
"The performance outlook until the end of this year is expected to remain positive due to the continued strengthening of commodity prices, despite challenges from increased competition in the auto market and increased credit provision in some of the activities of the Financial Services Group," Prijono said in Jakarta on Tuesday (31 / 10/2017)
He said that throughout the third quarter of 2017 Astra Group's automotive segment experienced an increase in both market share of cars and motorcycles, but faced pressure from increased discount competition in the car market.
The performance of the financial services segment has increased in line with returns generated by PT Bank Permata Tbk.
Meanwhile, rising commodity prices pushed strong performance from heavy equipment division and mining and agribusiness.