Interim Management Statement

RNS Number : 9335V

Jardine Matheson Hldgs Ld

10 November 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

10th November 2010 - Jardine Matheson Holdings Limited has today issued an Interim Management Statement covering the period from 1st July to 9th November 2010 in accordance with the requirements of the Disclosure and Transparency Rules of the Financial Services Authority in the United Kingdom.

The positive trends seen in the first half of the year continued across many of the Group's markets.  Most of Jardine Pacific's operations performed well, with Hong Kong Air Cargo Terminals benefiting from greater throughput and Gammon building a strong order book.  Jardine Motors saw good vehicle sales in Hong Kong and mainland China, but conditions in the United Kingdom were more difficult.  Jardine Lloyd Thompson produced an encouraging trading performance.

Demand remained steady in Hongkong Land's commercial property markets in Hong Kong and Singapore, but the contribution from its residential developments will be lower in the second half of the year due to the timing of completions.  Dairy Farm increased sales and profit, and currency movements enhanced its results in US dollar terms.  At Mandarin Oriental, a continuation of the occupancy-led recovery of the first six months led to improvements in room rates.  The strength of the Indonesian economy helped drive Astra's impressive operating result with sales in its motor car and motorcycle operations achieving significant levels of growth.

While the pace and consistency of economic expansion around the world remain hard to predict, the Jardine Matheson Group benefits from strong trading cash flows and low levels of net debt and earnings for the year to date are well ahead of 2009.

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.  Jardine Matheson Holdings Limited is incorporated in Bermuda and has a premium 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.

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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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