SINGAPORE (March 2): Jardine Matheson Holdings saw a 39% rise in FY16 earnings to US$2.5 billion ($3.5 billion) from US$1.8 billion a year ago.
The stronger bottomline was led by the group’s US$1.1 billion share of an increase in the value of Hongkong Land’s investment property portfolio.
(See also: Hongkong Land reports 66% rise in FY16 earnings to $3.3 bil on property investment revaluation gains)
Group revenue for FY16, including that from associates and joint ventures, rose 11% to US$72.4 billion from US$65.3 billion.
Jardine Motors enjoyed a very good year as Zung Fu’s mainland China operations achieved increased sales and higher margins.
Jardine Lloyd Thompson also reported a good result set against the continued challenging economic and trading environment.
Hongkong Land had another good year as its commercial markets remained relatively firm and there was another steady contribution from residential property developments.
Dairy Farm produced sound profit growth in retail markets that remained highly competitive.
(See also: Dairy Farm full-year earnings up 11% to US$469 mil)
Mandarin Oriental saw lower earnings as its hotels saw weaker demand in the key cities of Hong Kong, London and Paris.
(See also: Mandarin Oriental posts 38% decline in FY16 earnings to $77.9 mil)
Jardine Cycle & Carriage produced a satisfactory performance in 2016 as Astra’s results improved, the Indonesian rupiah exchange rate was stable, and there were increased contributions from its other interests.
(See also: Jardine Cycle & Carriage posts 2% rise in FY16 earnings to US$702 mil)
The board has recommended a final dividend of US$1.12 per share. This brings full year dividend up 3% to US$1.50.
Shares of Jardine Matheson closed 2.3% higher at US$65.60 on Thursday.
