Jardine Matheson profit attributable to shareholders down 6% to $1.56b

See what dragged down earnings growth.

Jardine Matheson Holdings Limited posted good trading performances for many of the Group’s businesses during 2013, with revenue, including 100% of revenue from associates and joint ventures, rising 2% to $61.4b, according to the company's 2013 preliminary announcement of results.

But overall earnings growth was held back as certain operations suffered in the face of difficult markets, while a weaker rupiah reduced Astra’s contribution in US dollars.

Jardine Matheson achieved an underlying profit before tax for the year of US$4,600 million, a decrease of 3%. Underlying profit attributable to shareholders was up 3% at US$1,502 million, while underlying earnings per share were 2% higher at US$4.09.

The profit attributable to shareholders for the year was $1.57b, with the main non-trading item being a modest increase in the value of Hongkong Land's investment property portfolio. This compares with $1.67b in 2012, which also benefited from a small increase in property valuations. Shareholders' funds were 3% higher at $18.4b.

In light of the Group's strong liquidity, the Board has recommended a final divided of US¢103 per share, which represents an increase of 4% for the full year.

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