By Adria Calatayud
Jardine Strategic Holdings Ltd. said Thursday that it swung to a net loss for the first half of 2020, and warned that its outlook for the second half remains uncertain due to the coronavirus pandemic.
The Asia-focused investment company posted a $961 million net loss for the first six months of the year, compared with a net profit of $1.66 billion for the year-earlier period. Underlying profit for the period fell 49% to $395 million, the company said.
Revenue for the first half fell to $12.75 billion from $16.00 billion a year before, Jardine Strategic said.
Net asset value per share at June 30 stood at $48.71, down 16% since the start of the year, the company said.
"It is expected that the pandemic will continue to create uncertainty and volatility in the second half, making it difficult to predict full year performance," Executive Chairman Ben Keswick said.
Jardine Strategic declared an interim dividend of 10.50 cents a share, flat compared to the prior year.
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