Jardine C&C Q1 net profit more than doubles on investment gains

MAINBOARD-LISTED Jardine Cycle & Carriage saw first-quarter earnings more than double on unrealised investment gains, but its profits from operations still took a tumble.

Astra's earnings were up by 5 per cent in local currency terms although the rupiah's weakness ate into its contribution to the group, led by income from its financial services division, which includes lender Permata Bank and insurer Asuransi Astra Buana, as well as the heavy equipment, mining, construction and energy business.

Otherwise, Jardine C&C's direct motor interests put up a mixed showing for the quarter. The division turned out an overall increase in profit contributions, as earnings in the Singapore, Indonesia and Vietnam markets covered losses in Malaysia and Myanmar.Meanwhile, net asset value stood at US$16.55 a share against US$15.54 as at Dec 31, 2018.

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