Interim Management Statement

RNS Number : 4559L

Jardine Matheson Hldgs Ld

06 May 2010

 



To:        Business Editor                                                                                                 For immediate release

The following announcement was issued today to a Regulatory Information Service approved by the Financial Services Authority in the United Kingdom.

Jardine Matheson Holdings Limited
Interim Management Statement

6th May 2010 - Jardine Matheson Holdings Limited has today issued an Interim Management Statement covering the period from 1st January to 5th May 2010 in accordance with the requirements of the Disclosure and Transparency Rules of the Financial Services Authority of the United Kingdom.

Following a good finish to the year in 2009, trading conditions remained positive for the Group in the opening months of 2010.  Jardine Pacific's businesses performed well, with air freight in particular benefiting from improving markets, while Gammon's order book continued to strengthen.  There was increased activity for Jardine Motors in both Asia and the United Kingdom.  Jardine Lloyd Thompson also had an encouraging start to the year.

Hongkong Land saw positive trends in the commercial property leasing sector in Hong Kong and Singapore, while its residential developments launched during the period were well received.  Dairy Farm's major operations demonstrated further good performances, and its results were enhanced by currency movements.  Mandarin Oriental's hotels achieved higher occupancies, particularly in Asia, although its capacity to raise room rates was limited.  Astra's businesses benefited from further growth in the Indonesian economy and improvements in commodity prices, and their increased contribution also reflected a strengthening of the Indonesian rupiah.

Jardine Matheson's financial position remains strong with low levels of net debt across the Group and satisfactory trading conditions.

Jardine Matheson is a diversified business group focused principally on Asia.  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, retailing, restaurants, luxury hotels, motor vehicles and related activities, financial services, heavy equipment, mining and agribusiness.

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For further information, please contact:

Jardine Matheson Limited
Neil M McNamara                                                                                                                                  (852) 2843 8227

GolinHarris
Nick Bradbury                                                                                                                                        (852) 2501 7910

This and other Group announcements can be accessed through the Internet at 'www.jardines.com'.

 

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