Cycle & Carriage 2002 net up 92 pct

Newswire

SINGAPORE, Feb 25 (Reuters) - Cycle & Carriage Ltd, one of Southeast Asia's largest automotive groups, said on Tuesday net profit rose 92 percent in 2002 due to foreign exchange gains at its Indonesian unit. C&C, which owns 34.3 percent of Indonesia's largest auto maker PT Astra International , posted a net profit of S$231 million ($132.3 million), up from S$120 million in 2001, on a seven percent rise in sales to S$4.99 billion. The result was better then the expectations of 10 ...

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