Financial Services and Heavy Equipment Weigh Down Astra's Profits

The financial services, heavy equipment, and mining sectors weighed down PT Astra International Tbk's profit performance during the January-September 2016 period. Astra International's profit in the third quarter of 2016 fell six percent to Rp 11.28 trillion from Rp 12 trillion in the same period the previous year.

The company's financial services business line through the third quarter of 2016 decreased by 30.77 percent to Rp 2.07 trillion from the same period the previous year. Similarly, the profit of its subsidiaries in the heavy equipment and mining sectors in January-September 2016 also shrank by 43.36 percent to Rp 1.89 trillion from the same period in 2015. These two sectors contributed 35 percent to PT Astra International's profit.

Meanwhile, profit from automotive subsidiaries in the January-September 2016 period recorded a 12.5 percent increase to Rp 5.96 trillion from the same period in 2015. Similarly, subsidiaries in the agribusiness sector through the third quarter also surged 687 percent to Rp 913 billion, and the information technology sector also rose 147.7 percent to Rp 213 billion from the same period the previous year.