--- title: "Jardine Cycle & Carriage Q1 Earnings Dip as Astra Softens, Vietnam Assets Gain" type: "News" locale: "en" url: "https://longbridge.com/en/news/284751866.md" description: "Jardine Cycle & Carriage reported a decline in Q1 2026 earnings due to weaker contributions from its Indonesian units, Astra and Tunas Ridean, despite stronger results from Vietnam's THACO. Astra's performance was impacted by softer operations in various sectors, although financial services and agribusiness showed higher profits. The company reduced corporate net debt by divesting stakes in Vinamilk and Toyota. Analysts rate the stock as a Buy with a target price of S$38.50. Jardine Cycle & Carriage focuses on investments in Indonesia and Vietnam across various sectors." datetime: "2026-04-30T10:56:42.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/284751866.md) - [en](https://longbridge.com/en/news/284751866.md) - [zh-HK](https://longbridge.com/zh-HK/news/284751866.md) --- # Jardine Cycle & Carriage Q1 Earnings Dip as Astra Softens, Vietnam Assets Gain ### Claim 55% Off TipRanks - Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions - Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Jardine Cycle & Carriage ( (SG:C07) ) has shared an announcement. Jardine Cycle & Carriage reported lower overall earnings for the first quarter of 2026, as weaker contributions from Indonesian units Astra and Tunas Ridean and the regional Cycle & Carriage business outweighed stronger results from Vietnam’s THACO. Astra’s performance reflected softer new car, heavy equipment, gold mining and mining services operations, though this was partially offset by higher profits in financial services, agribusiness and infrastructure, alongside ongoing share buyback programmes by Astra and United Tractors that signal confidence in future cash generation. The Group’s Vietnam portfolio continued to grow in line with the local economy, with THACO benefiting from increased property sales and higher passenger and commercial vehicle volumes, while REE’s performance supported JC&C’s diversification. During the quarter, JC&C also cut corporate net debt by divesting a 3.5% stake in Vinamilk and selling half its holdings in Toyota Motor Corporation, moves that reinforce balance-sheet strength as the company prepares to navigate an uncertain macroeconomic and geopolitical backdrop. The most recent analyst rating on (SG:C07) stock is a Buy with a S$38.50 price target. To see the full list of analyst forecasts on Jardine Cycle & Carriage stock, see the SG:C07 Stock Forecast page. **More about Jardine Cycle & Carriage** Jardine Cycle & Carriage is a Singapore-headquartered investment holding company focused on the fast-growing economies of Indonesia and Vietnam, with additional regional interests. Its portfolio spans market-leading businesses in automotive distribution and manufacturing, financial services, heavy equipment, mining, agribusiness, infrastructure, real estate, power and utilities, logistics, and mechanical and electrical engineering. JC&C holds controlling or significant stakes in Indonesia’s Astra and Tunas Ridean, Vietnam’s THACO and REE Corporation, and the regional Cycle & Carriage dealership network in Singapore and Malaysia, and is listed on the Singapore Exchange with Jardine Matheson owning a majority stake. **Average Trading Volume:** 185,953 **Technical Sentiment Signal:** Buy **Current Market Cap:** S$12.92B For an in-depth examination of C07 stock, go to TipRanks’ Overview page. ### Related Stocks - [C07.SG](https://longbridge.com/en/quote/C07.SG.md) - [7203.JP](https://longbridge.com/en/quote/7203.JP.md) - [TM.US](https://longbridge.com/en/quote/TM.US.md) - [REE.US](https://longbridge.com/en/quote/REE.US.md) - [J36.SG](https://longbridge.com/en/quote/J36.SG.md) - [JMHLY.US](https://longbridge.com/en/quote/JMHLY.US.md) - [TOYOF.US](https://longbridge.com/en/quote/TOYOF.US.md) ## Related News & Research - [Việt Nam eyes balanced, sustainable trade ties with US](https://longbridge.com/en/news/286951723.md) - [Agricultural cooperatives cash in on carbon credit market](https://longbridge.com/en/news/286846443.md) - [Việt Nam’s pomelos and lemons gain official export access to China](https://longbridge.com/en/news/286545575.md) - [Central Retail breaks ground on GO! Phổ Yên mall in Thái Nguyên](https://longbridge.com/en/news/286551467.md) - [India to ease export requirements for Vietnamese durian](https://longbridge.com/en/news/286758803.md)