Astra Intl 1H Net Rp 3.03 Tln Vs Rp 2.60 Tln

Astra Intl 1H Net Rp 3.03 Tln Vs Rp 2.60 Tln JP/15/Astra

Astra Intl 1H Net Rp 3.03 Tln Vs Rp 2.60 Tln

PT Astra International (ASII.JK) said on Friday its first-half net profit rose 17 percent on-year largely due to an increase in revenue from selling cars and motorcycles.

The nation's largest automotive company posted net profit of Rp 3.03 trillion for the January-to-June period in 2005, compared with Rp 2.60 trillion a year ago.

Revenue rose 50 percent to Rp 29.61 trillion from Rp 19.73 trillion.

Astra's first-half car sales rose 31 percent , thanks to low interest rates, which spurred consumers to buy vehicles using bank loans. The launch of new models also boosted sales.

At the end of June, the company sold 295,774 cars, maintaining its share of the car market at 46percent , on strong sales of Daihatsu Xenia, Toyota Avanza and Toyota Kijang Innova passenger cars.

During the period, Astra also sold 1.28 million Honda motorcycles, 31percent higher than in 2004, representing a two- wheeler market share of 49 percent .

"Astra performed well in the first half of 2005 and this satisfactory performance is expected for the rest of the year although at a lower expected growth than in the first half," Astra Chief Executive Michael Ruslim said in a press release.

Singapore's Jardine Cycle & Carriage Ltd. (C07.SG) owns 49.9percent of Astra.