Jardine Matheson Overall Results Ahead Of 2010

Jardine Matheson Holdings Ld. (J36.SG), a diversified business group focused principally on Asia, said Wednesday many of its businesses are experiencing satisfactory market conditions, despite the uncertain global economic environment, and overall results are ahead of 2010.

MAIN FACTS:

-Jardine Pacific's operations continued to produce some strong performances, although Gammon Construction's result has been affected by two difficult projects.

-Jardine Motors achieved good sales in Hong Kong, but its earnings are lower due to the poor trading conditions in the U.K. and reduced margins in its mainland China operations.

-Jardine Lloyd Thompson is trading well in difficult markets.

-Hongkong Land's commercial property interests are benefiting from high levels of occupancy and mostly positive rental reversions.

-Group's residential developments are also progressing well, but their contribution for the year will be lower than in 2010.

-Dairy Farm is continuing to trade ahead of the same period last year with growth in sales and earnings, although the rate of growth has slowed.

-Mandarin Oriental's Tokyo property continued to be impacted by low levels of occupancy, but demand in most of its other markets enabled average room rates to increase further.

-Jardine Cycle & Carriage saw some improvement in income from its non-Astra motor interests.

-Astra is delivering strong results with good performances across all its major business segments supported by growth in domestic demand in Indonesia and robust commodity prices.

-Jardine Matheson has maintained its strong balance sheet and Group's cash flow has enabled it to undertake significant capital expenditure with only a modest increase in the level of net debt since June 30.

-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [e-mail]