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Interim Management Statement

16th May 2013 12:34

RNS Number : 9029E
Jardine Strategic Hldgs Ltd
16 May 2013
 



To: Business Editor For immediate releaseThe following announcement was issued today to a Regulatory Information Service approved by the Financial Conduct Authority in the United Kingdom.Jardine Strategic Holdings LimitedInterim Management Statement16th May 2013 - Jardine Strategic 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 with underlying earnings marginally up on last year. It has maintained a robust balance sheet with net debt little changed during the period.Of the businesses held through 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 directly held, 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 Strategic is a holding company which takes long-term strategic investments in multinational businesses, particularly those with an Asian focus, and in other high quality companies with existing or potential links with the Group. Its principal attributable interests are in Jardine Matheson (55%), Hongkong Land (50%), Dairy Farm (78%), Mandarin Oriental (74%) and Jardine Cycle & Carriage (73%), which in turn has a 50% interest in Astra. Jardine Strategic is 82%-held by Jardine Matheson. Jardine Strategic Holdings Limited is incorporated in Bermuda and has a premium listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. The Company's interests are managed from Hong Kong by Jardine Matheson Limited.

 

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For further information, please contact:Jardine Matheson LimitedNeil M McNamara (852) 2843 8227GolinHarrisKennes Young (852) 2501 7987This and other Group announcements can be accessed through the internet at www.jardines.com.

This information is provided by RNS
The company news service from the London Stock Exchange
 
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