REG - Jardine Strategic Jardine Matheson Hdg - JC&C 2017 First Quarter Financial Statements <Origin Href="QuoteRef">JARD.SI</Origin> <Origin Href="QuoteRef">JSH.SI</Origin> - Part 2

Jardine Matheson HoldingsAnnouncement

28/04/2017 10:20

- Part 2: For the preceding part double click  ID:nRSb5383Da 

                                    
 Financing income                                                 (27.9)     (18.9)   
 Financing charges                                                38.4       29.0     
 Share of associates' and joint ventures' results after tax       (155.8)    (81.5)   
 Depreciation of property, plant, equipment                       122.5      123.4    
 Depreciation of bearer plants                                    5.8        5.0      
 Amortisation of leasehold land use rights and intangible assets  24.7       22.9     
 Impairment of debtors                                            36.9       18.1     
 (Profit)/loss on disposal of:                                                        
 - property, plant and equipment                                  (0.7)      (5.9)    
 - leasehold land use rights                                      (1.2)      -        
 - investments                                                    -          0.1      
 Loss on disposal/write-down of repossessed assets                14.0       14.6     
 Write-down of stocks                                             1.1        0.8      
 Changes in provisions                                            8.2        8.3      
 Foreign exchange loss                                            8.6        12.2     
                                                                  74.6       128.1    
 Operating profit before working capital changes                  642.6      484.8    
                                                                                      
 Changes in working capital:                                                          
 Stocks (1)                                                       (201.7)    89.5     
 Concession rights                                                (24.7)     (8.5)    
 Financing debtors                                                (43.2)     (28.7)   
 Debtors (2)                                                      (258.3)    (105.7)  
 Creditors  (3)                                                   278.5      66.6     
 Pensions                                                         7.2        6.1      
                                                                  (242.2)    19.3     
 Cash flows from operating activities                             400.4      504.1    
 
 
(1)   Increase in stocks balance due mainly to longer inventory days and
purchases to support sales activities 
 
(2)   Increase in debtors balance due mainly to dividend receivables from
associates and joint ventures and higher sales activities 
 
(3)   Increase in creditors balance due mainly to purchases to support sales
activities 
 
11     Interested person transactions 
 
                                       Aggregate value of all interested person transactions (excluding transactions less than S$100,000 and transactions conducted under shareholders' mandate pursuant  to Rule 920)    Aggregate value of all interested person transactions conducted under shareholders' mandate pursuant to Rule 920 (excluding transactions less than S$100,000)        
 Name of interested person             US$m                                                                                                                                                                                                                                                                                                                                              US$m    
                                                                                                                                                                                                                                                                                                                                                                                                 
 Three months ended 31st March 2017                                                                                                                                                                                                                                                                                                                                                              
 Jardine Matheson Limited                                                                                                                                                                                                                                                                                                                                                                        
 - management support services         -                                                                                                                                                                                                                                                                                                                                                 1.2     
 PT Hero Supermarket Tbk                                                                                                                                                                                                                                                                                                                                                                         
 - transportation services             -                                                                                                                                                                                                                                                                                                                                                 0.1     
 Jardine Matheson (Singapore) Ltd                                                                                                                                                                                                                                                                                                                                                                
 - rental of premises                  -                                                                                                                                                                                                                                                                                                                                                 0.1     
                                       -                                                                                                                                                                                                                                                                                                                                                 1.4     
 
 
12     Additional information 
 
                                                 Group    
 Three months ended 31st March                   2017     2016   Change  
                                                 US$m     US$m   %       
 Astra International                                                     
 Automotive                                      80.7     54.0   49      
 Financial services                              42.2     23.8   77      
 Heavy equipment and mining                      33.9     16.4   107     
 Agribusiness                                    24.0     12.4   94      
 Infrastructure & logistics                      2.5      2.5    -       
 Information technology                          1.0      1.3    -23     
 Property                                        0.2      0.1    100     
                                                 184.5    110.5  67      
 Direct Motor Interests                                                  
 Vietnam                                         7.4      20.5   -64     
 Singapore                                       11.9     9.9    20      
 Malaysia                                        -        1.4    -100    
 Indonesia (Tunas Ridean)                        3.4      3.4    -       
 Myanmar                                         (0.2)    -      -100    
                                                 22.5     35.2   -36     
                                                                         
 Corporate costs                                 (5.0)    (5.1)  -2      
                                                                         
 Underlying profit attributable to shareholders  202.0    140.6  44      
 
 
13     Others 
 
The results do not include any pre-acquisition profits and have not been
affected by any item, transaction or event of a material or unusual nature. 
 
No significant event or transaction other than as contained in this report has
occurred between 1st April 2017 and the date of this report. 
 
The Company confirms that it has procured undertakings from all its directors
and executive officers under Rule 720(1) of the Listing Manual. 
 
- end - 
 
For further information, please contact: 
 
Jardine Cycle & Carriage Limited 
 
Jeffery Tan Eng Heong 
 
Tel: 65 64708111 
 
The full text of the Financial Statements and Dividend Announcement for the
first quarter ended 31st March 2017 can be accessed through the internet at
www.jcclgroup.com. 
 
Corporate Profile 
 
Jardine Cycle & Carriage ("JC&C") is a leading Singapore-listed company and a
member of the Jardine Matheson Group. It has an interest of just over 50% in
Astra International ("Astra"), a premier listed Indonesian conglomerate, as
well as Direct Motor Interests and Other Interests in Southeast Asia. Together
with its subsidiaries and associates, JC&C employs over 240,000 people across
Indonesia, Vietnam, Singapore, Thailand, Malaysia and Myanmar. 
 
Astra is the largest independent automotive group in Southeast Asia, with
further interests in financial services, heavy equipment and mining,
agribusiness, infrastructure and logistics, information technology and
property. JC&C's Direct Motor Interests operate in Singapore, Malaysia and
Myanmar under the Cycle & Carriage banner, and through Tunas Ridean in
Indonesia and Truong Hai Auto Corporation in Vietnam. JC&C's Other Interests
comprise interests in market leading businesses in the region through which
JC&C gains exposure to key economies by supporting such businesses in their
long term development. 
 
Jardine Matheson is a diversified business group focused principally on Asia.
Its businesses comprise a combination of cash generating activities and
long-term property assets. In addition to its 75% shareholding in the Company,
the Jardine Matheson Group's interests include Jardine Pacific, Jardine
Motors, Jardine Lloyd Thompson, Hongkong Land, Dairy Farm and Mandarin
Oriental. These companies are leaders in the fields of engineering and
construction, transport services, motor vehicles, insurance broking, property
investment and development, retailing, restaurants and luxury hotels. 
 
This information is provided by RNS
The company news service from the London Stock Exchange