Jardine Matheson says 3Q23 performance 'marginally above' 3Q22

The company attributed its improved performance to strong growth from Astra.

Jardine Matheson said its overall performance for 3Q23 was "marginally above" the same period last year.

In a bourse filing, the company attributed its improved performance to strong growth from Astra, DFI Retail Group (DIF), and Mandarin Oriental.

Its growth for the quarter, however, was partially offset by lower contributions from Jardine Pacific and Hongkong Land. 

In 3Q23,  Astra reported a 12% profit increase, whilst DFI saw an 80% growth in profit.  In the same period, Mandarin Oriental reported improved earnings from its owned hotels and higher fee income in its management business.

Meanwhile, Jardine Pacific reported a lower contribution due to losses from the Jardine Restaurant Group in Hong Kong and Vietnam.

Hongkong Land also had low contributions following fewer planned sales and slower sales on the Chinese mainland.