Indonesian automotive distributor PT Astra International has reported a 62% jump in fourth quarter net profit, helped by currency gains.

Astra’s fourth-quarter net profit rose to a record 2.94 trillion rupiah (USD315m), from 1.82 trillion rupiah in the same period a year ago, according to Reuters.

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“It is a record profit,” said acting president director Prijono Sugiarto in a statement.

The vehicle market in Indonesia has picked up strongly in recent months, helped by low interest rates and a favourable economic environment. In January, Indonesian vehicle sales surged to make Indonesia’s vehicle market the largest in the ASEAN for the first time.

Reuters reported that PT Astra – controlled by Singapore’s Jardine Cycle & Carriage Ltd – also posted a better than expected 9.2% rise in full-year 2009 net profit to 10.04 trillion rupiah.

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