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(Correcting 2021 pretax profit to be $2.23 billion, not $2.33 billion)
Jardine Matheson Holdings Ltd on Tuesday noted the results of Jardine Cycle & Carriage Ltd, in which profit and revenue were up and it declared an increased dividend.
Jardine Cycle & Carriage is a 76%-owned subsidiary and investment holding company of the Jardine Matheson Group, and is seeking growth in Southeast Asia through investments in market-leading businesses.
Pretax profit for 2022 was up 44% to $3.23 billion from $2.23 billion in 2021, while revenue was up 23% to $21.79 billion from $17.69 billion.
As a result, it increased its dividend per share for the year by 39% to 111 cents from 80 cents.
‘Jardine Cycle & Carriage achieved a record underlying profit in 2022, reflecting improvements in the performance of most parts of the portfolio,’ said Jardine Cycle & Carriage Chair Ben Keswick.
‘The group expects to face challenges ahead arising from uncertainties around the global economic outlook, but we remain confident in the group’s prospects and it is well-positioned to achieve sustainable growth through the opportunities in southeast Asia.’
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