Underlying profit attributable to shareholders for the year rose 39% y-o-y to US$1.51 billion mainly due to stronger contributions from Astra, the group’s motors business including its stake in Zhongsheng, its Southeast Asian businesses held by Jardine Cycle & Carriage, as well as a recovery in the performance of Mandarin Oriental.
The group also reported resilient performances from Hongkong Land and the unlisted Jardine Pacific.
The higher contributions were slightly offset by the lower profits from DFI Retail Group due to the significant loss made by its associate Yonghui.
“While a large part of the increase in the group’s profit was due to improvements in the underlying performances of most of our businesses, results also benefitted from the impact of the group simplification which was completed in April 2021,” says executive chairman Ben Keswick.
See also: Jardine Matheson posts loss of US$468 mil, but underlying net profit stood at US$1.47 bil
“This overall improvement in performance is encouraging, although the group’s results were 5% behind those of 2019, before the pandemic began,” he adds.
In the FY2021, JMH saw revenue climb 10% y-o-y to US$35.86 billion, while total revenue including 100% of its associates and joint ventures increased by 20% y-o-y to US$109.37 billion.
Earnings per share (EPS) for the year stood at US$6.01.
For the 2HFY2021, the group has declared a final dividend of US$1.56, bringing the total dividend for the full year to US$2, up 16% y-o-y.
The final dividend will be paid out on May 11.
As at end-December, cash and cash equivalents stood at US$7.28 billion.
Shares in JMH closed 86 US cents lower or 1.43% down at US$59.12 on March 3.
