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||2 August 2009
Indonesian carmaker posts 12.5% decline in H1 net profit
Indonesia's largest car maker firm PT Astra International saw a 12.5 percent drop in its first-half net profit this year, the Jakarta Post reported on Saturday.
Astra's net profit slumped to 4.2 trillion rupiah ($420 million) in the first six months this year, from 4.8 trillion rupiah ($483.8 million) in the same period a year earlier, on the back of lower car sales and commodity prices, the firm said in a statement.
Astra's car sales dropped by 18 percent to 121,000 units in the first half of this year, reflecting the sluggish automotive sector in Indonesia as of June 2009.
Car industries around the world have suffered from the impact of the global financial crisis, which has undermined people's purchasing power and eroded demand for new cars.
According to the latest data, Indonesia's car sales tumbled 28 percent to 210,000 units in the first half of this year.
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