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Interim Management Statement

6 May 2010 12:33

RNS Number : 4561L
Jardine Strategic Hldgs Ld
06 May 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 Strategic Holdings Limited Interim Management Statement 6th May 2010 - Jardine Strategic Holdings Limited has today issued an Interim Management Statement covering the period from 1st January to 5th May 2010 in accordance with the requirements of the Disclosure and Transparency Rules of the Financial Services Authority of the United Kingdom. Following a good finish to the year in 2009, trading conditions remained positive for the Group in the opening months of 2010. Within Jardine Matheson's directly held interests, Jardine Pacific's businesses performed well with air freight in particular benefiting from improving markets. There was increased activity for Jardine Motors in both Asia and the United Kingdom, while Jardine Lloyd Thompson had an encouraging start to the year. Hongkong Land saw positive trends in the commercial property leasing sector in Hong Kong and Singapore, while its residential developments launched during the period were well received. Dairy Farm's major operations demonstrated further good performances, and its results were enhanced by currency movements. Mandarin Oriental's hotels achieved higher occupancies, particularly in Asia, although its capacity to raise room rates was limited. Astra's businesses benefited from further growth in the Indonesian economy and improvements in commodity prices, and their increased contribution also reflected a strengthening of the Indonesian rupiah. Jardine Strategic's financial position remains strong with low levels of net debt across the Group and satisfactory trading conditions. 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 (54%), Hongkong Land (50%), Dairy Farm (78%), Mandarin Oriental (74%) and Jardine Cycle & Carriage (70%), which in turn has a 50% interest in Astra. Jardine Strategic is 81%-held by Jardine Matheson. The Company also has a 21% interest in Rothschilds Continuation. The primary share listing of Jardine Strategic is in London, with secondary listings in Bermuda and Singapore. The Company is incorporated in Bermuda and its interests are managed from Hong Kong by Jardine Matheson Limited.

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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'.

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