SINGAPORE (Feb 27): Jardine Cycle & Carriage (JC&C), a Jardine Matheson company, announced that its FY2019 earnings have more than doubled (by 111%) to US$881.4 million ($1.2 billion).

However, revenue for the full year ended December came in 2% lower at US$18.6 billion from US$19.0 billion a year ago. Since net operating costs saw a larger decline of 5% y-o-y to US$16.4 billion, operating profit for FY19 came in 27% higher at US$2.2 billion from US$1.7 billion last year.

Net financing charges increased by 60% y-o-y to US$269.7 million from US$168.3 million.

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