The following companies saw new developments that may affect trading of their securities on Friday (Mar 3):
Jardine Matheson Holdings on Thursday (Mar 2) posted an underlying net profit of US$1.6 billion for the financial year 2022, up 5 per cent from underlying earnings of US$1.5 billion in 2021.
The company attributed this to strong showings by Astra and its other South-east Asian businesses held by Jardine Cycle and Carriage.
Astra reported a 51 per cent increase in underlying earnings, excluding the unrealised net fair value loss on investments in GoTo and Hermina, with improvements across most of its divisions, supported by Indonesia’s economic recovery and higher commodity prices.
Property group Hongkong Land on Thursday (Mar 2) reported underlying earnings of US$766.1 million for 2022, down 20 per cent from earnings of US$966 million in the prior year.
Net profit came in at US$203 million for the year, after including net non-cash losses of US$573.4 million due chiefly to lower valuations of the group’s investment properties. In 2021, Hongkong Land booked a net loss of US$349 million, which included a US$1.3 billion reduction in property valuations mainly due to lower market rents for the Hong Kong central portfolio.
The board of directors has recommended a final dividend of US$0.16 per share, unchanged from 2021.
DFI Retail Group on Thursday (Mar 2) posted underlying earnings of US$29 million for the fiscal year 2022 ended December, down 72 per cent from earnings of US$105 million in FY2021.
The group’s net loss for the year stood at US$114.6 million versus earnings of US$102.9 million in the prior year. The loss was primarily due to a US$171 million impairment loss related to the group’s investment in Robinsons Retail.
Underlying earnings distinguishes between the group’s ongoing business performance and non-trading items, DFI said in its financial results posted on the bourse on Thursday (Mar 2).
Comments