http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters. com:20071025:MTFH16438_2007-10-25_05-26-21_JAK223063&type=comktNews&rpc=44
JAKARTA, Oct 25 (Reuters) - Indonesia's largest listed plantation firm, PT Astra Agro Lestari Tbk (AALI.JK: Quote <http://stocks.us.reuters.com/stocks/overview.asp?symbol=AALI.JK&WTmodLoc=Hy bArt-C1-ArticlePage1> , Profile <http://stocks.us.reuters.com/stocks/fullDescription.asp?symbol=AALI.JK&WTmo dLoc=HybArt-C1-ArticlePage1> , Research <http://stocks.us.reuters.com/stocks/analystResearch.asp?symbol=AALI.JK&WTmo dLoc=HybArt-C1-ArticlePage1> ), on Thursday reported a doubling in net profit for the first nine months on the back of strong crude palm oil prices. This week, Indonesian crude palm oil prices hit a record price at auction, lifted by strong demand and gains in the Malaysian market. Indonesia is set to overtake Malaysia as the world's largest palm oil producer. Astra Agro Lestari -- which is controlled by the country's largest automotive distributor, PT Astra international Tbk (ASII.JK: Quote <http://stocks.us.reuters.com/stocks/overview.asp?symbol=ASII.JK&WTmodLoc=Hy bArt-C1-ArticlePage1> , Profile <http://stocks.us.reuters.com/stocks/fullDescription.asp?symbol=ASII.JK&WTmo dLoc=HybArt-C1-ArticlePage1> , Research <http://stocks.us.reuters.com/stocks/analystResearch.asp?symbol=ASII.JK&WTmo dLoc=HybArt-C1-ArticlePage1> ) -- reported a net profit of 1.29 trillion rupiah ($140.6 million) for the January-September period, up from 623.1 billion a year ago. Sales revenue climbed to 4.12 trillion for the first nine months, against 2.8 trillion rupiah a year earlier. The strong performance came even though the company's crude palm oil production fell by 9.8 percent in the first nine months of this year to 641,954 tonnes, from a year earlier. Astra Agro's share price was up nearly 4 percent at 19,700 rupiah as of 0459 GMT, beating a 1.14 percent gain in the broader index <.JKSE> and lifted by the news of its nine-month results. Malaysian crude palm oil futures have risen by more than a third since early this year on strong demand from both the food and energy sectors. The benchmark January contract on the Bursa Malaysia Derivatives Exchange rose 14 ringgit to 2,727 ringgit a tonne by the midday break Thursday, but was below last week's record high of 2,795 ringgit a tonne. ($1=9,175 rupiah) (Additional reporting by Fitry Wulandari and Mita Valina
