, Singapore

Jardine Matheson’s underlying profit jumps 39% to $2.06b

Given this, the company proposed a final dividend of $2.24 per share.

Jardine Matheson’s underlying net profit increased 39% year-on-year (YoY) or $581.99m (US$428m) to $2.06b (US$1.51b) in 2021 on the back of improved contributions from its businesses in Southeast Asia including Jardine Cycle & Carriage in Singapore.

The company also attributed the higher profit to the simplification of the group’s parent company's structure last April 2021.

Whilst the 2021 profit was 5% lower than 2019, Executive Chairman Ben Keswick said the conglomerate’s performance was still “encouraging.”

With the improved financial performance, the company proposed an increased final dividend of $2.24 (US$1.56) per share, translating to a 16% higher full-year dividend of $2.72 (US$2.00) per share.

“The resilience the group demonstrated in 2021 reflects our long track record of successfully navigating change and challenge. We are confident that this resilience will enable us to continue to take advantage of the best long-term opportunities in Asia while adapting to the changing external environment and evolving expectations of our stakeholders,” Keswick said.

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