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SINGAPORE: Mainboard-listed Jardine Cycle & Carriage has posted a 5 per cent drop in its third quarter net profit to US$145.3 million from a year earlier.
This was on the back of a 13 per cent fall in revenue for the three months ended September to US$2.8 billion.
The company said on Friday its performance has been affected by the global economic slowdown. Contribution from its Astra unit to underlying profit fell in the period mainly due to a decline in the Indonesian Rupiah exchange rate.
Meanwhile, underlying profit from the company's other motor interests was down 7 per cent from a year ago. This was mainly a result of weaker performances from its Singapore motor operations and its Indonesian associate, Tunas Ridean.
Jardine C&C said with markets recovering, it believes the outlook for the full year is encouraging.
- CNA/so
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