Jardine C&C's underlying net profit for Q3 down slightly

SINGAPORE - Conglomerate Jardine Cycle & Carriage's underlying net profit for the third quarter fell 1.3 per cent to US$215.2 million (S$269 million).

Revenue for the three months to Sept 30 dipped 1 per cent to US$4.61 billion.

Earnings per share declined to 59.94 US cents at the end of the third quarter from last year's 62.41 US cents.

Net asset value per share rose to US$12.77 at the end of September, compared to US$11.98 at the end of December.

For the nine months, Jardine C&C's underlying net profit fell 6.4 per cent to US$628 million from US$670.6 million over the same period last year.

The company said its full year results are expected to be lower than the previous year.

It added that a weaker rupiah impacted its earnings as the bulk of its profits came from Astra International of Indonesia.