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Astra`s Net Profit Up to Rp193.9 trillion

Jakarta (ANTARA News) – PT Astra International Tbk. (ASII) booked a net profit of Rp193.9 trillion in 2013, which was up three percent from the year before.

“The company recorded a satisfying performance in 2013, although some of its business divisions are still facing challenges,” President Director Prijono Sugiarto stated in a press statement here on Thursday.

He claimed that the company continued to expand and diversify in 2013 by entering new business lines that have the potential for development. It also launched new initiatives including the “Low Cost Green Car.”

Astra Otoparts also acquired the shares of a “wheel rim” plant and developed a property project, including office and apartment buildings.

In January 2014, Prijono noted that Astra had announced an agreement with Aviva Plc. to set up a life insurance joint venture company.

“The business prospects in 2014 are forecast to remain good, although competition in the car sales market will still be high, while the coal prices remain weak. The hike in loan interest rates and volatility of the rupiah exchange rate must also be closely monitored,” he added.

The companys net profit in the year 2013 was recorded at Rp19.4 trillion, which is still in the same range of the previous year.

The net profit per share was recorded at Rp480, which also did not differ much from last year.

Meanwhile, the net value of Astra International assets was recorded at Rp2,073 per share in 2013, up 18 percent from Rp1,759 per share in 2012, Prijono remarked.

Currently, the Astro Group is focusing on its six main business lines such as automotive, finance, heavy equipment and mining, agribusiness, infrastructure and logistics, and information technology, he stated.

Source : www.antaranews.com, Thursday, February 27 2014