Jardine C&C reports higher profits for FY16

JARDINE Cycle & Carriage saw a net profit of US$702 million for FY2016, up from US$691 million in the year prior.

The bottom line for FY16 was boosted in part by a net non-trading profit of US$23 million stemming from a gain from the sale of a property and investment property valuations.

Underlying profit improved 7 per cent to US$679 million, underpinned by contributions from subsidiary Astra.

Revenue was flat at US$15.76 billion while earnings per share fell 3 per cent to 178 US cents.

The board is recommending a final dividend of 56 US cents per share, up from 51 US cents a year ago.