Jardine Matheson Hldgs Ltd Interim Management Statement (2131E)
May 04 2017 - 7:37AM
UK Regulatory
TIDMJAR TIDMJDS
RNS Number : 2131E
Jardine Matheson Hldgs Ltd
04 May 2017
To: Business Editor For immediate release
The following announcement was issued today to a Regulatory
Information Service approved by the Financial Conduct Authority in
the United Kingdom.
Jardine Matheson Holdings Limited
Interim Management Statement
4th May 2017 - Jardine Matheson Holdings Limited has today
issued an Interim Management Statement for the first quarter of
2017.
Improved trading conditions in a number of the Group's principal
markets led to good earnings growth during the three months under
review, compared with the same period in 2016. Better performances
were seen in Astra, Hongkong Land, Jardine Pacific, Jardine Motors
and Dairy Farm. The Group's balance sheet at 31st March 2017
remained strong with little change in gearing since the prior year
end.
Of the Group's businesses held directly by Jardine Matheson,
Jardine Pacific's results benefited from improvements in its
engineering and construction activities and its transport
businesses. In Jardine Motors, the trading momentum continued to be
positive in mainland China, although Hong Kong remained soft.
Jardine Lloyd Thompson made a good start to the year in challenging
markets, with momentum being maintained in its Risk and Insurance
activities, while in Employee Benefits its international businesses
produced revenue growth and further improvement was seen in its
restructured UK operations.
Within the businesses held through Jardine Strategic, rental
reversions in Hongkong Land's office portfolio in Hong Kong
remained positive with occupancy levels little changed, and in
residential trading activities, its mainland China developments
benefited from sound market sentiment while conditions in Singapore
were satisfactory. Dairy Farm faced tough operating conditions
resulting in sales for the period being slightly lower, however,
improved margins in certain businesses and an increased
contribution from associates led to a modest rise in underlying
profit. The results across Mandarin Oriental's portfolio were
largely stable, but its earnings declined primarily due to the
partial closure of its London hotel for renovation.
Jardine Cycle & Carriage's earnings rose with an increased
contribution from Astra, but profits from its Direct Motor
Interests were lower. Astra started the year well with good profit
growth following improved performances from most of its divisions.
Its automotive businesses captured strong market shares for both
cars and motorcycles, while earnings in its financial services
operations recovered with a return to profit for Permata Bank.
Higher commodity prices also led to better trading in Astra's heavy
equipment and agribusiness divisions.
Jardine Matheson is a diversified Asian-based business group
with unsurpassed experience in the region. Its interests include
Jardine Pacific, Jardine Motors, Jardine Lloyd Thompson, Hongkong
Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage
and Astra. These companies are leaders in the fields of engineering
and construction, transport services, insurance broking, property
investment and development, food retailing, home furnishings,
restaurants, luxury hotels, motor vehicles and related operations,
financial services, heavy equipment, mining and agribusiness.
Jardine Matheson Holdings Limited is incorporated in Bermuda and
has a standard listing on the London Stock Exchange, with secondary
listings in Bermuda and Singapore. Jardine Matheson Limited
operates from Hong Kong and provides management services to Group
companies.
- end -
For further information, please contact:
Jardine Matheson Limited
Neil M McNamara (852) 2843 8227
Brunswick Group Limited
Karin Wong (852) 3512 5077
This and other Group announcements can be accessed through the
internet at www.jardines.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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