3rd Mar 2022 16:04
Jardine Matheson Holdings Ltd - Hong Kong-based holding company with interests in retail, property, hotels and motor dealerships - Swings back to profit in 2021 as revenue surges. Profit attributable to shareholders is USD1.88 billion, versus a loss of USD394 million in 2020. Underlying net profit rises 39% to USD1.51 billion from USD1.09 billion. Revenue grows by 10% to USD35.9 million from USD32.6 million, and gross revenue including 100% of associates and joint ventures improves by 20% to USD109.4 million from USD90.9 million. Lifts full-year dividend by 16% to USD2.00 from USD1.72.
"Jardines faced major challenges in 2021 as a result of the ongoing pandemic," says Executive Chair Ben Keswick, adding: "High levels of uncertainty remain this year, given the continuing impact of the pandemic." Jardine said its business in south east Asia saw a good recovery during 2021, as did its hotel business Mandarin Oriental, which reduced its underlying loss significantly. The Motors business performs strongly, Jardine says, particular its Zhongsheng and UK Motors arms.
Current stock price in Singapore: USD59.12, closed down 1.4% on Thursday
12-month change: up 9.5%
By Tom Waite; [email protected]
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