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The Week Ahead: Jardine’s Earnings Fest

A host of Jardine-related companies are set to report results on Thursday and Friday next week.

Demand for Grade A office space in Central has continued to drive demand for properties owned by Hongkong Land (SGX: H78). In March, the developer said underlying profits for the year rose 14% to a record US$969.7 million. The full-year earning was also boosted by a one-off gain from a change in fair value of its investment properties.

Jardine Cycle & Carriage (SGX: C07) reported a 16% jump on full-year profits in March. This was thanks to a non-trading gain of from its investment properties revaluations. The company said its Indonesian business, Astra International, should continue to benefit from improving economic conditions and stable commodity prices.

Also on tap will be results from conglomerates Jardine Strategic Holdings (SGX: J36) and Jardine Matheson Holdings (SGX: J37).

Hutchison Port Holdings (SGX: NS8U) said a combination of factors caused in fall in first-quarter earnings. It said merger and acquisition of some liners in the second half of 2017 affected average revenues. It also said an unfavourable shipping mix had an adverse effect.

In May, Singapore Airlines (SGX: C6L) beat market expectations with a 148% jump in full-year profit. But the airline said that despite the positive results, intense competition remains, and cost pressures persist.

Singapore Exchange (SGX: S68) posted a 21% jump in third-quarter earnings. The Singapore bourse operator said market activity is expected to improve as investors look for ways to manage their portfolio risk.

On the economic front, the US will report economic growth for the second quarter. In the first three months of 2018, the economy expanded 2%, which was below expectations. But growth is expected to have picked up to an annualised rate of 3% between April and June.

The European Central Bank is expected to keep interest rates on hold again. In June it left its benchmark refinancing rate at 0%. It added that key interest rates will remain unchanged at least through the summer of 2019.

And finally, Singapore will report inflation numbers for June. The headline inflation rate could rise to 0.6%, whilst the core inflation rate could be unchanged at 1.5%.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo owns shares in Hongkong Land. The Motley Fool Singapore has recommended Hongkong Land and Singapore Exchange.