Jardine Matheson

Re: Jardine Matheson

Postby winston » Fri Mar 06, 2020 8:12 am

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Jardine Matheson Holdings Posts FY Profit Attributable $2,838 Mln

March 5 (Reuters) - Jardine Matheson Holdings Ltd :

* FY REVENUE $40,922 MILLION VERSUS $42,527 MILLION

* FINAL DIVIDEND OF US$1.28 PER SHARE

* FY PROFIT ATTRIBUTABLE $2,838 MILLION VERSUS $1,722 MILLION

* "SHORT-TERM OUTLOOK IS LIKELY TO CONTINUE TO BE CHALLENGING"

* PERFORMANCE OF GROUP'S BUSINESSES IN GREATER CHINA IS BEING MATERIALLY IMPACTED BY ONGOING COVID-19 OUTBREAK

* PERFORMANCE IN YEAR AHEAD WILL DEPEND ON DURATION, GEOGRAPHIC EXTENT & IMPACT OF COVID-19 OUTBREAK

Source: Reuters
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Re: Jardine Matheson

Postby winston » Tue Mar 10, 2020 10:43 am

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FY19 in line with expectations

FY19 underlying net profit formed 97% of our forecast, within expectations.

The group expects the short-term outlook to be challenging given the Covid19 outbreak.

We downgrade our rating from Add to Hold.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 1F0CE19272
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Re: Jardine Matheson

Postby winston » Fri Jul 31, 2020 6:37 am

vested in JSH

Jardine Matheson and Jardine Strategic post decline in 1H20 earnings

by Felicia Tan

Jardine Matheson Holdings and Jardine Strategic Holdings have reported lower earnings for 1H20 ended June due to "significant" negative impact arising from Covid-19 and the restrictions imposed to contain the pandemic.

Jardine Matheson and Jardine Strategic both saw earnings for the half-year period decline 49% y-o-y to US$373 million ($513.2 million) and US$395 million respectively.

“As expected, COVID-19 had a significant impact on the Group’s results in the first half, with Southeast Asia particularly affected. It is expected that the pandemic will continue to create uncertainty and volatility in the second half, making it difficult to predict full year performance,” says Ben Keswick, executive chairman of both companies.

Both companies also registered a 11% y-o-y decline in 1H20 gross revenue to US$44.94 billion due to the losses from Mandarin Oriental.

The group says its major businesses remained profitable in the half-year, though at “materially lower levels” than the same period a year ago.

“While there were some signs of recovery in certain of the Group’s businesses in the second quarter (including the Group’s property development and motors businesses on the Chinese mainland), the possibility of further waves of the pandemic makes it difficult to predict performance in the second half,” it says in its statement on July 30.

Within the group’s businesses, Jardine Pacific registered a 5.4% y-o-y decline in underlying net profit to US$53 million.

Hongkong Land registered a US$1.82 billion loss after accounting for a net non-cash loss of US$2.18 billion from the biannual revaluation of investment properties, due to lower open market rents. Without the non-cash loss, Hongkong Land registered a 24% y-o-y decline in underlying profit of US$353 million.

Mandarin Oriental recorded an underlying loss of US$102 million for 1H20 compared to a US$11 million a year ago, despite implanting cost-cutting measures.

The group has proposed an interim dividend of 10.50 US cents per share for 1H20.
As at end June, cash and cash equivalents stood at US$6.73 billion.

Looking ahead, the group says it is “difficult” to predict its performance in 2H20 due to uncertainty on further waves of the pandemic.

Shares in Jardine Matheson closed 8 US cents down to US$40.92, while shares in Jardine Strategic closed 5 US cents up at US$20.20 on Thursday (July 30).

Source: The Edge

https://www.theedgesingapore.com/capita ... 0-earnings
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Re: Jardine Matheson

Postby winston » Mon Aug 03, 2020 7:27 am

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BRIEF-Jardine Matheson Holdings Says Declared Interim Dividend Of US¢44.0 Per Share

July 30 (Reuters) - Jardine Matheson Holdings Ltd :

* INTERIM DIVIDEND DECLARED OF US¢44.00 PER SHARE

* HY UNDERLYING PROFIT OF US$373 MILLION DOWN 49%

* OUTLOOK REMAINS UNCERTAIN

* EXPECTED THAT PANDEMIC WILL CONTINUE TO CREATE UNCERTAINTY AND VOLATILITY IN SECOND HALF

* HY REVENUE US$15,906 MILLION VERSUS US$ 20,172 MILLION

* POSSIBILITY OF FURTHER WAVES OF PANDEMIC MAKES IT DIFFICULT TO PREDICT PERFORMANCE IN SECOND HALF

* HY LOSS ATTRIBUTABLE US$775 MILLION VERSUS PROFIT US$2,254 MILLION

* "REMAINS RESILIENT AND WELL-POSITIONED TO ACHIEVE ITS LONG-TERM GROWTH OBJECTIVES"

* TRADING CONDITIONS IN SECOND HALF EXPECTED TO CONTINUE TO BE CHALLENGING

Source: Reuters
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Re: Jardine Matheson

Postby winston » Mon Aug 03, 2020 8:56 am

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Jardine Matheson Holdings Ltd
Strong balance sheet to weather Covid-19


Jardine Matheson’s 1H20 underlying net profit was below expectations at 24% of our full-year estimate and 27% of consensus’s.

The group expects the short-term outlook to be challenging given the Covid19 outbreak but notes some signs of business recovery.

Even so, we upgrade the stock from Hold to Add as some of the earnings uncertainty has been priced in.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 988225C728
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Re: Jardine Matheson

Postby winston » Wed Aug 12, 2020 8:51 am

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BRIEF-Jardine Matheson Holdings Says Repurchased Total 211,200 Shares At US$40.9142 Per Share

Aug 11 (Reuters) - Jardine Matheson Holdings Ltd :

* CO REPURCHASED TOTAL 211,200 SHARES AT US$40.9142 PER SHARE

Source: Reuters
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Re: Jardine Matheson

Postby winston » Mon Oct 26, 2020 9:04 am

BRIEF-Jardine Matheson To Invest Up To US$500 Mln In Share Buyback Programme

Oct 23 (Reuters) - Jardine Matheson Holdings Ltd :

* INTENTION TO INVEST UP TO US$500 MILLION IN A SHARE BUYBACK PROGRAMME EXTENDING UNTIL 30TH JUNE 2021

Source: Reuters
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Re: Jardine Matheson

Postby winston » Fri Nov 06, 2020 7:56 am

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Jardine Matheson Holdings says it continues to face 'challenging trading conditions' in 3Q update

by Felicia Tan

Underlying net profits for the 3QFY2020 declined compared to 3QFY2019.


Source: The Edge

https://www.theedgesingapore.com/capita ... ditions-3q
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Re: Jardine Matheson

Postby winston » Wed Dec 02, 2020 8:34 am

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Awaiting a slow recovery

We believe Jardine Matheson’s share price has priced in short-term recovery expectations.

4Q20F performance remains weak and the road to recovery will be slow and long.

Hence, we downgrade our call to Hold from Add previously

TP: US$54.68

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 0920F41315
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Re: Jardine Matheson

Postby winston » Mon Mar 08, 2021 8:16 am

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Jardine Matheson Holdings to acquire remaining stake in Jardine Strategic for US$5.5 bil; Jardine Strategic shareholders to receive US$33 per share

by Atiqah Mokhtar

Under the terms of to the acquisition, Jardine Matheson intends to cancel Jardine Strategic's 59% shareholding in Jardine Matheson.


Source: The Edge

https://www.theedgesingapore.com/news/c ... ke-jardine
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