7th Nov 2012 09:19
To: Business Editor For immediate releaseThe following announcement was issued today to a Regulatory Information Service approved by the Financial Services Authority in the United Kingdom.Jardine Strategic Holdings LimitedInterim Management Statement7th November 2012 - Jardine Strategic 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. It has maintained a strong balance sheet with net debt little changed during the period.Within Jardine Matheson's directly held interests, 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 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 (72%), 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.
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