Astra proposes dividend of 45% of net profit | Company data
(The Insider Stories) – Indonesia multinational company PT Astra International Tbk is proposing a share dividend of 45% from 2012′s net profit of IDR19.4 trillion, with shareholders to vote Thursday, Astra finance director Simon Dixon tells The Insider Stories.
Astra reported first-quarter net profit fell 17% from IDR4.65 trillion to IDR4.3 trillion, the first decline in almost four years – since the second quarter of 2009. Domestic car sales grew a reported 18.3% in the first quarter but growth fell to 9.1% in March from 26.5% in January.
Revenues for Astra, seen as an economic bellwether, were almost flat, only growing 1% to IDR46.7 trillion from IDR46.4 trillion as slowing commodity demand is hurting economic growth. Dixon said Astra plans to expand in infrastructure projects like power, toll roads, ports and other sectors related to its existing businesses.
“We’ve already got investments in two greenfield toll roads. I’d like to see them build up profitable operations before we go out and acquire another toll road. The same with the port. I’d like to see the East Java port brought into operations before we look at other opportunities in the port sector,” he said.
Astra is preparing IDR15 trillion to invest in capex and IDR7 trillion for joint ventures. “The number can change and we will look into opportunities, strategic opportunities when they come up,” according to Dixon.
Astra groups has six units that operate in the automotive, financial services, heavy equipment and mining, agribusiness, infrastructure and logistics and information technology sectors.
