Interim Management Statement

RNS Number : 9004E

Jardine Matheson Hldgs Ltd

16 May 2013

 



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

16th May 2013 - Jardine Matheson Holdings Limited has today issued its Interim Management Statement covering the period from 1st January to 15th May 2013.

The Group's businesses faced mixed trading conditions, although underlying earnings were marginally up on last year.  It has maintained a robust balance sheet with net debt little changed during the period.

Of the businesses directly held by Jardine Matheson, Jardine Pacific saw an overall decline in earnings with weaker performances in most of its businesses.  In Jardine Motors, higher earnings in Hong Kong and the United Kingdom led to an improved result despite continued difficult conditions in Southern China.  Jardine Lloyd Thompson continued to progress and invest for growth.

Within the businesses held through Jardine Strategic, Hongkong Land's commercial properties saw generally positive rental reversions and its residential developments performed satisfactorily against a background of government measures to dampen the markets.  Dairy Farm's results were marginally lower than last year, with another good performance in Hong Kong offset by challenging conditions in Malaysia.  Mandarin Oriental's trading remained strong, and it opened new hotels in Guangzhou and Shanghai.  Astra's contribution fell back due to higher labour costs, increased competition and softness in commodity prices, combined with a lower exchange rate. 

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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