PT Astra International’s net profit in the first 11 months of 2003 jumped 15% from the same period in the previous year, analysts who have seen the figures told Dow Jones on Wednesday.
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Astra, Indonesia’s largest automaker and distributor, reportedly had a 4.1 trillion rupiah net profit in the period, analysts told the news agency which could not contact the company to confirm the numbers.
The analysts reportedly said a lower gain on foreign exchange in the period was offset by a IDR869 billion net gain from the sale of Astra’s 46% stake in its Toyota local manufacturing joint venture back to the Japanese company.
Overall revenues were flat, as lower car sales were compensated by higher financial service and agribusiness revenues, analysts reportedly said.
Astra, which is 37%-owned by Singapore’s Jardine Cycle & Carriage, owns the country’s largest finance company, Dow Jones noted.
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