Astra Group Drive Down Jardine C&C’s Profit
Challenging conditions, especially in Indonesia, weighed on half-year earnings at conglomerate Jardine Cycle & Carriage. Net profit for the six months to June 30 slid 9 per cent to US$328 million (S$439 million) due largely to lower earnings in automotive group Astra’s financial services and heavy equipment and mining businesses. Revenue for the first half declined 6 per cent to
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