Jardine International Motor Holdings did well in 1995, all things considered.
Despite plummeting new car sales in Hong Kong, the group managed to increase overall sales of new and used cars by 18 per cent.
There are two key reasons to be positive about the group's future prospects.
Firstly, the company is well placed to benefit from a recovery in sales of new cars in Hong Kong. Secondly, sales from outside Hong Kong are doing well and are now making meaningful contributions to the bottom line.
Meanwhile, the company remains well managed and is in good financial health with respectable cash flow and debt at reasonable levels.
It looks like the geographic diversification at the company is finally going to pay-off. Jardine companies, led by the Keswick family, have been diversifying away from Hong Kong for more than a decade with pretty dismal results.
