Interim Management Statement

RNS Number : 5250Q

Jardine Matheson Hldgs Ld

07 November 2012

 



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

7th November 2012 - Jardine Matheson Holdings Limited has today issued an Interim Management Statement covering the period from 1st July to 6th November 2012 in accordance with the requirements of the Disclosure and Transparency Rules of the Financial Services Authority in the United Kingdom.

The Group has performed steadily during the period under review with underlying earnings in line with last year.  Jardine Matheson has maintained a strong balance sheet with net debt little changed during the period.

Jardine Pacific's operations produced mixed performances during the period and its results overall were slightly behind those for last year.  Jardine Motors is seeing good levels of activity in Hong Kong, but its results have been materially affected by difficult trading conditions in Southern China.  Jardine Lloyd Thompson achieved further organic growth supported by strong revenue generation in Latin America and Asia.

Hongkong Land's commercial properties saw generally positive rental reversions despite subdued markets, while the contribution from its residential developments is greater than had been anticipated at the start of the year.  Dairy Farm's businesses continued to perform well with improvements in both sales and earnings.  Mandarin Oriental benefited from positive trading environments, although it is experiencing some reduction in levels of corporate business.  Astra is achieving strong car sales in Indonesia, which has more than offset lower returns from a number of its other areas of activity.

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
Kennes Young                                                                                       (852) 2501 7987

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

 

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