Jardine Matheson’s net profit soars to US$686m in FY23

Full-year dividend also increased, jumping 5% YoY.

Jardine Matheson Holdings Limited posted a profit attributable to shareholders of US$686m in FY23, a 94% YoY jump from the FY22 record of US$354m.

In the same period, the company recorded higher underlying profit attributable to shareholders of US$1.7b (+5% YoY) and a 5% YoY increase in its full-year dividend to reach US$2.25.

In a bourse filing, Jardine Matheson attributed its improved underlying profit to the post-pandemic reopening of markets in 1H23, which benefited many of its businesses.

“The group’s diversified portfolio continued to generate strong cash flows, supporting a strong balance sheet and creating a solid foundation for future growth,” the company added.