Jardine Strategic posts 3% decline in 1H earnings to US$664 mil

SINGAPORE (July 30): Jardine Strategic Holdings posted a 3% decline in underlying earnings to US$664 million ($891 million) in 1H16, on the back of challenging market conditions.

Earnings, which included non-trading items, rose 46% to US$1.1 billion, from the revaluations of its investment properties.

Revenue, which includes 100% of revenue from associates and joint ventures, rose 10% to US$34.6 billion, on better results by Jardine Cycle & Carriage and Dairy Farm International, while Hongkong Land’s business remained stable. However, the group’s results were offset by the declines in the businesses of Mandarin Oriental International and Jardine Matheson.

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