JARDINE C&C

sg.finance.yahoo.com/quote/C07.SI/

 

03 Aug 2020 07:34:14 AM

REPL::Financial Statements and Related Announcement::Half Yearly Results

30th July 2020 JARDINE CYCLE & CARRIAGE LIMITED 

2020 HALF YEAR FINANCIAL STATEMENTS AND DIVIDEND ANNOUNCEMENT Highlights  Underlying profit 66% lower at US$138 million 

 Significantly weaker performances from Astra’s automotive, financial services and heavy equipment and mining operations 

 Direct Motor Interests down due to the temporary closure of automotive operations 

 Other Strategic Interests impacted by Thaco’s weaker performance and the timing of Vinamilk’s interim dividend 

 Interim dividend at US¢9 per share, 50% lower than 2019 

“Jardine Cycle & Carriage’s performance in the first half was significantly impacted by the COVID-19 pandemic and its economic consequences. The pandemic is expected to continue to adversely affect performance for at least the rest of 2020. The Group has been focused on reducing operational and capital expenditure, managing working capital and ensuring liquidity. 

The Board remains confident that the Group’s strong financial position and clear strategic priorities will position it well to deliver long-term growth. During this challenging period of disruption and uncertainty, I would like to take this opportunity to thank all colleagues for their continued hard work, professionalism and resilience.” 

Ben Keswick, Chairman