Astra’s net earnings per share down

JAKARTA. Diversified conglomerate PT Astra International announced that its net earnings per share were down by 9 percent during the first half of 2013.

“The group’s net earnings declined by 9 percent during the first half as improved contributions from the financial services and mining contract businesses were offset by lower contributions from the automotive, heavy equipment and agribusiness segments,” Astra president director Prijono Sugiarto said in an official release.

In the first half of 2013, net revenue was Rp 94.3 trillion, a decrease of 2 percent. Net income was 9 percent lower at Rp 8.8 trillion, making net earnings per share down by 9 percent to Rp 218.

“Economic conditions continue to support domestic demand, but the group’s operations are facing increased competition in the car market, higher labor costs and lower commodity prices,” Prijono said.