Jardine Matheson Overall Results Ahead Of 2010
09 November 2011 - 9:11PM
Dow Jones News
Jardine Matheson Holdings Ld. (J36.SG), a diversified business
group focused principally on Asia, said Wednesday many of its
businesses are experiencing satisfactory market conditions, despite
the uncertain global economic environment, and overall results are
ahead of 2010.
MAIN FACTS:
-Jardine Pacific's operations continued to produce some strong
performances, although Gammon Construction's result has been
affected by two difficult projects.
-Jardine Motors achieved good sales in Hong Kong, but its
earnings are lower due to the poor trading conditions in the U.K.
and reduced margins in its mainland China operations.
-Jardine Lloyd Thompson is trading well in difficult
markets.
-Hongkong Land's commercial property interests are benefiting
from high levels of occupancy and mostly positive rental
reversions.
-Group's residential developments are also progressing well, but
their contribution for the year will be lower than in 2010.
-Dairy Farm is continuing to trade ahead of the same period last
year with growth in sales and earnings, although the rate of growth
has slowed.
-Mandarin Oriental's Tokyo property continued to be impacted by
low levels of occupancy, but demand in most of its other markets
enabled average room rates to increase further.
-Jardine Cycle & Carriage saw some improvement in income
from its non-Astra motor interests.
-Astra is delivering strong results with good performances
across all its major business segments supported by growth in
domestic demand in Indonesia and robust commodity prices.
-Jardine Matheson has maintained its strong balance sheet and
Group's cash flow has enabled it to undertake significant capital
expenditure with only a modest increase in the level of net debt
since June 30.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296;
ian.walker@dowjones.com
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