UPDATE 2-Cycle & Carriage 2002 net up 92 pct

Newswire

(Rewrites, adds details from news conference) SINGAPORE, Feb 25 (Reuters) - Cycle & Carriage Ltd, one of Southeast Asia's largest motor groups, said on Tuesday it will focus on cutting debt after posting a 92-percent rise in 2002 net profit due to foreign exchange gains from its Indonesian unit. C&C finance director Neville Venter, speaking at a news conference, said cutting the company's net debt of S$634 million ($366 million) would be the priority in 2003. Venter said the ...

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