Jardine arm lifts profit

JARDINE Davies, the 72 per cent owned Philippine-listed subsidiary of Jardine Pacific, has reported a 33 per cent rise in profit to 181 million pesos (about HK$55.2 million) for last year.

Earnings per share were up 34 per cent at 7.91 pesos. The company plans a dividend of 1.50 pesos per stock unit. The company said the good result had been achieved in spite of political uncertainty, power shortages and slow economic growth.