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Jardine C&C Q3 gain down on fair-value losses
3% drop came after recognition of fair-value losses amounting to US$60.3 million, on the adoption of new IFRS 9 accounting standards
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Published Wed, Nov 7, 2018 · 09:50 PM
Singapore
JARDINE Cycle & Carriage (Jardine C&C) on Wednesday posted a 3 per cent dip in net profit to US$200.9 million for the third quarter ended Sept 30.
The drop in earnings came after recognition of fair-value losses amounting to US$60.3 million, on the adoption of the new IFRS 9 accounting standards. The changes in fair value of the group's investments in equity instruments would previously have been classified under other comprehensive income instead of in the profit and loss statement.
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