BT . Jardine C&C shares slump on earnings miss; 'slower growth' outlook THU, FEB 28, 2019 - 3:47 PM MARISSA [email protected]@MarissaLeeBT JARDINE Cycle & Carriage shares fell as much as 10.7 per cent on Thursday after full-year earnings missed street estimates.

On Wednesday evening, the group reported a core profit of US$858 million for 2018, up 11.5 per cent from 2017. The shares last changed hands at S$33.30 as at 3.28pm, down $3.33 or 9.09 per cent.

In its outlook statement, chairman Ben Keswick cautioned that Jardine C&C's main profit contributor, Astra International "is likely to face a number of macroeconomic and commercial headwinds in 2019, while the group’s direct motor interests and other strategic interests may also see slower growth”.

Astra is South-east Asia’s largest automotive group. It contributed US$718.7 million to Jardine C&C's bottom line in 2018, up 15.5 per cent from 2017.

But net income from Astra’s automotive division dipped 4 per cent to US$597 million, owing to lower operating margins despite higher automotive sales.

The group said: "The wholesale market for cars was 7 per cent higher in the year compared to 2017 at 1.2 million units. Astra’s car sales were 1 per cent higher at 582,000 units, but increased competition resulted in a decline in market share from 54 per cent to 51 per cent."

Meanwhile, the wholesale market for motorcycles increased by 8 per cent to 6.4 million units. Astra Honda Motor’s domestic sales rose by 9 per cent to 4.8 million units, with its market share stable at 75 per cent.

Jardine C&C also has a regional automotive presence through its direct motor interests, which contributed US$144.6 million to core earnings for 2018, up 19.2 per cent from 2017.

Under this division, wholly owned unit Cycle & Carriage Singapore is one of the leading automotive groups in Singapore.

Though Cycle & Carriage Singapore's earnings grew 8 per cent to US$62 million last year on improved margins, passenger car sales fell 7 per cent to 13,300 units.

The Singapore passenger car market fell by 13 per cent to 80,300 units, following a decrease in the number of certificates of entitlement issued, the group said. Still, the group's passenger car market share improved from 16 per cent to 17 per cent, it said

jardine cycle n carriage... b4 buy $35 sell $33 losses... 3 days big drop hen buy below $33.. once $32.51 after ex and went $35 in may 18.. jkt was problem, then malaysia ge14.. then hsl abandon.. group manipluate by j36.j37,d01,c07.h78 n mandarin

300 shares : charges $41 optimum cos 1000 shares : charges $138