April 28, 2020 / 11:34 AM / a month ago

BRIEF-Jardine Strategic Expects H1 Profits To Be Significantly Reduced

April 28 (Reuters) - Jardine Strategic Holdings Ltd :

* BUSINESSES IN SOUTHEAST ASIA ARE NOW FACING INCREASINGLY DIFFICULT CONDITIONS, PARTICULARLY IN INDONESIA DUE TO COVID-19

* COVID-19 AND MEASURES TO CONTROL IT HAVE ADVERSELY AFFECTED GROUP’S PERFORMANCE OVER Q1

* PROFITS FOR H1 WILL BE SIGNIFICANTLY REDUCED

* GROUP’S PROFITS FOR H1 OF YEAR WILL BE SIGNIFICANTLY REDUCED COMPARED WITH PRIOR YEAR.

* FY PROFIT WILL DEPEND ON DURATION OF PANDEMIC MEASURES BUT MARKET SENTIMENT EXPECTED TO REMAIN WEAK FOR SOME TIME

* BALANCE SHEET AND LIQUIDITY POSITION OF GROUP REMAIN STRONG

* TAKING ACTIONS TO MANAGE COSTS, INCLUDING REDUCTION, SUSPENSION OR DEFERRAL OF NON-ESSENTIAL OPERATING AND CAPITAL EXPENDITURE Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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