Indonesian earnings disappoint most in 19 months on slow growth

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Indonesian companies are expecting to see a plunge in their earnings with industrial and consumer services sectors disappointing the most. FMTNews

Indonesian companies have reported lower earnings with the industrial and consumer services affected the most.

Earnings so far are 6.8% lower on aggregate than analyst estimates, with industrial and consumer services sectors disappointing the most, lagging 18.5% and 17.9%, respectively. Weak consumer sentiment has contributed to a lacklustre performance of the nation’s benchmark index, whose 2.9% gain this year is well behind the 8.7% gain for the MSCI Asia Pacific Index.

Major conglomerate PT Astra International, for instance, saw its net income fall 5.6% in the first half from the year-earlier period.

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