Affected by non-sales losses Jardine Holdings lost $468 million last year

Jardine Matheson's real estate investment revaluation and goodwill impairment have slumped its performance in fiscal 2024, with the group's net loss reaching US$468 million (approximately S$632 million), but plans to pay a year-end dividend of US$1.65 per share.

Jardines Holdings released its full-year performance report for the 2024 fiscal year on Monday (March 10). It showed that as of the end of last year, the group's full-year net loss was serious, contrary to the net profit of US$686 million in the previous year. The group lost $1.61 per share in fiscal 2024, a significant decline in performance compared with the previous year's earnings of $2.37 per share.

The group's non-sale net loss reached US$1.939 billion, which included losses in fair value after reassessment of the real estate portfolio and impairment of goodwill from the United Company. However, some of the losses were offset, as the group made $89 million in profits as it sold off real estate and revalued other investments.

Revenue fell slightly by 1% to $35.779 billion; basic net profit fell by 11% to $1.471 billion.

The group's companies include HongKong Land, DFI Retail Group, Jardine C&C and Mandarin Oriental Hotel.

Further reading

DFI Retail Group suffered a net loss of US$245 million in fiscal 2024

Hong Kong Land's net loss in 2024 expanded to US$1.385 billion

The group plans to pay an annual dividend of $1.65 per share on May 14, and the full-year dividend will therefore reach $2.25.

The group's share price rose 0.51% on Monday to close at $39.70.