Jakarta. Business conglomerate Astra International (ASII) reported a 9.1 percent decline in profit, reaching Rp 15.85 trillion ($973 million) during the first half of 2024, compared to Rp 17.44 trillion in the same period last year.

Its net income also decreased to Rp 159.96 trillion from Rp 162.39 trillion in the corresponding period.

Astra, the authorized distributor of major automotive brands such as Toyota, Daihatsu, Isuzu, and UD Truck, controlled 60 percent of the Indonesian automotive market during the year's first half.

United Tractors (UNTR), a subsidiary of Astra, reported an even steeper drop in profit. The heavy machinery distributor saw its profit in the first six months of 2024 fall 15 percent year-on-year, from Rp 11.2 trillion to Rp 9.5 trillion.

Sluggish demand from the construction sector and coal mining affected the company’s net revenue, which declined by 6 percent to Rp 64.5 trillion.

Sales of Komatsu heavy vehicles dropped 32 percent to 2,147 units, the company said. The mining sector made up 63 percent of United Tractors’ heavy machinery customers, followed by plantations (14 percent), construction (13 percent), and forestry (10 percent).