Jardine Cycle & Carriage's Q1 net profit down 20%

 Jardine Cycle & Carriage's net profit for the quarter ended March 31 fell 20 per cent to US$140.6 million (S$188.9 million).
Jardine Cycle & Carriage's net profit for the quarter ended March 31 fell 20 per cent to US$140.6 million (S$188.9 million). PHOTO: ST FILE

SINGAPORE - Conglomerate Jardine Cycle & Carriage's first-quarter net profit fell 20 per cent to US$140.6 million (S$188.9 million).

Revenue for the three months to March 31 dipped 9 per cent to US$3.65 billion.

Quarterly earnings per share were 36 US cents, down from 348 US cents, compared with the same period a year earlier.

Net asset value per share rose to US$13.88 as at March 31, compared with US$13.07 as at Dec 31.

rachaelb@sph.com.sg