Jardine Cycle & Carriage sees marginal dip in net profit to $1.2 billion
JARDINE Cycle & Carriage has reported a 4 per cent dip in net profit to US$987 million (S$1.21 billion).
Underlying profit, net of non-trading items, was stable at US$1.02 billion.
Revenue for the year ended Dec 31 climbed by 7 per cent to US$21.54 billion.
Key revenue and profit contributor, Astra International, had what was described by Jardine C&C chairman Ben Keswick as a satisfactory year, "although its performance will be influenced by commodity prices and the effects of minimum downpayment regulations in automotive financing" in Indonesia.