31st Jul 2025 12:55
(Alliance News) - Jardine Matheson Holdings Ltd on Thursday reported a jump in pretax profit for the first half of 2025, driven by improved performances across most of its portfolio companies, although revenue slipped slightly and the dividend was held steady.
The Hong Kong-based holding company with interests in retail, property, hotels and motor dealerships said underlying pretax profit rose 14% to USD2.12 billion in the six months ended June 30, from USD1.87 billion a year earlier.
Reported pretax profit more than doubled to USD1.76 billion from USD843 million.
Underlying profit attributable to shareholders surged 45% year-on-year to USD798 million from USD550 million, with earnings per share climbing to USD2.73 from USD1.91.
However, revenue edged down 1.2% to USD17.08 billion from USD17.28 billion a year before. Operating profit grew to USD1.44 billion from USD646 million, despite net operating costs totalling USD15.46 billion, slightly below the USD15.68 billion reported in the first half of 2024.
The group declared an unchanged interim dividend of USD0.60 per share, payable on October 15 to shareholders on the register at the close on August 22.
Parent free cash flow rose 6% to USD585 million, while cash flow from operating activities declined 14% to USD2.6 billion. Gearing improved to 11% from 14% at the end of 2024.
Executive Chair Ben Keswick said Jardines delivered "a solid performance" and remains focused on long-term returns.
"We believe that the group is well-positioned to take advantage of opportunities for mid- and long-term growth," he added.
Looking ahead, the company said it expects full-year results to be broadly in line with 2024, excluding the prior year's impairments at Hongkong Land.
Shares in the company were quoted at USD58.38 in London on Thursday afternoon.
By Eva Castanedo, Alliance News reporter
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