Astra Q1 net profit jumps 43 pct

Astra International , Indonesia's main vehicle distributor and biggest listed company, on Thursday said its first quarter 2011 net profit rose 43 percent, driven by higher coal and palm oil prices.

Astra, controlled by Singapore's Jardine Cycle & Carriage Ltd , reported first quarter net profit of 4.303 trillion rupiah, compared with a net profit of 3.014 trillion rupiah a year earlier.

Analysts forecast full year 2011 net profit up 9 percent to 15.7 trillion rupiah, according to Thomson Reuters I/B/E/S.

Astra has said that domestic car sales were expected to grow only 9 to 10 percent this year, far lower than 2010 where car sales jumped 57 percent amid booming local consumer demand.

Astra shares closed up 0.8 percent on Thursday ahead of the result, and have gained 1.9 percent so far this year, under performing the broader market's roughly 3 percent rise. Source: Reuters