SINGAPORE (Mar 6): Jardine Strategic and Jardine Matheson reported FY17 earnings rose by half to US$4.1 billion and US$3.8 billion respectively from a year ago.
Jardine Strategic said it saw strong performances from Astra and Hongkong Land as well as Jardine Motors, Jardine Pacific and Jardine Lloyd Thompson which are directly held by 57% owned Jardine Matheson. However, both saw lower contributions from Dairy Farm, Mandarin Oriental and Jardine Cycle & Carriage’s non-Astra businesses.
See: Hongkong Land posts 67% increase in FY17 earnings to US$5.6 bil on fair value of investment properties
See: Mandarin Oriental reports 1% fall in FY17 earnings to US$54.9 mil
See: Dairy Farm's FY17 earnings fall 14% to US$404 mil on business change costs
Jardine Matheson's earnings included a US$1.9 billion share of increases in property valuations, principally Hongkong Land’s investment properties in Hong Kong, and US$268 million of other net non-trading gains.
Meanwhile, Jardine Strategic's earnings was boosted by a US$2.3 billion share of increases in property valuations, also from Hongkong Land, and US$195 million of other net non-trading gains.
Jardine Strategic's revenue for FY17, together with revenue from Jardine Matheson, associates and joint ventures, was US$83.8 billion, 16% higher compared to a year ago. The group’s consolidated revenue for FY17 was US$31.6 billion, an increase of 7%.
Jardine Matheson's gross revenue for FY17, which included 100% of revenue from associates and JVs, was US$83.8 billion, 16% higher compared to a year ago. Group’s consolidated revenue for FY17 was US$39.5 billion, an increase of 6%.
Jardine Strategic is recommending a final dividend of 22.50 US cents per share, bringing full year dividend of 32 US cents per share, up 7% from the prior year.
Jardine Matheson is proposing a final dividend of US$1.20 per share, which produces a full year dividend of US$1.60 per share, also uo 7% from last year.
Shares in Jardine Strategic closed 70 cents higher at US$39.30 while shares in Jardine Matheson closed 80 cents higher at $62.80.
