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Three Jardine firms post lower H1 earnings

Net profit is down 29% for Mandarin Oriental, 9% for Hongkong Land, 18% for Dairy Farm

Published Thu, Jul 30, 2015 · 09:50 PM

Singapore

THREE Jardine Matheson Group companies - hotelier Mandarin Oriental, property developer Hongkong Land, and retailer Dairy Farm - on Thursday posted lower earnings for their first half ended June 30, 2015.

Mandarin Oriental's net profit fell 29 per cent to US$32.4 million. Combined total revenue of hotels under management (including its subsidiary hotels, as well as associate, joint-venture and managed hotels) fell 5 per cent to US$640.9 million.

The group said that its results were affected by softer demand in Hong Kong and Paris, together with the impact of…