Cycle & Carriage to ride on Astra profit

Newswire

By Mantik Kusjanto SINGAPORE, July 30 (Reuters) - Cycle & Carriage Ltd, one of the largest automotive groups in Asia, is expected to post sharply higher first half profits, riding on its 32 percent stake in Indonesia's Astra International, analysts said on Tuesday. C&C, in which parent Jardine Strategic Holdings is making a partial offer to raise its stake to 50.2 percent from 29.1 percent, is due to release first-half results on Wednesday. Three analysts polled by Reuters gave ...

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