SINGAPORE (Bloomberg) ? Bermuda-based Jardine Matheson Holdings Ltd., which owns real estate, supermarkets and drugstores in Asia and runs hotels worldwide, posted a 17 percent gain in underlying second-half profit on increased supermarket and car sales.

Net income excluding revaluations and one-time gains rose to $231 million, or 65 cents a share, from $197 million, or 56 cents, in the six months through December 31, according to figures derived by subtracting first-half net from full-year numbers provided by the company. Sales rose to $7.32 billion from $4.55 billion.

The increase mainly came from supermarket, pharmacy and convenience store unit Dairy Farm International Holdings Ltd., and from Jardine?s bigger stake in Pt Astra International TBK, Indonesia?s largest car retailer. Jardine is listed in Singapore and London.

Mandarin Oriental International Ltd., which operates luxury hotels in Asia, Europe and the Americas, will lose about eight months of income in 2006 from its Hong Kong flagship, which is undergoing a $140 million refurbishment, said Weatherall, who will be replaced by Anthony Nightingale next month.

?It?s not all bad news,? Weatherall said. Hongkong Land Holdings Ltd., one of the city?s largest city centre office landlords, is benefiting from rising rents and Toyota and Honda, brands Astra sells, are gaining market share.