Jardine conglomerate posts net profit jump for 2014

THE Jardine conglomerate posted a solid set of earnings in 2014 as most of its businesses performed well.

Both Jardine Matheson Holdings and Jardine Strategic raked in higher profits in the 12 months to Dec 31, the companies said in a statement on Thursday.

The Jardine group's combined revenue including associates and joint ventures for 2014 came in at US$62.78 billion, 2 per cent higher than in the year before.

Jardine Matheson net profit jumped 9.2 per cent to US$1.71 billion from the preceding year, on the back of a 1.2 per cent increase in revenue from the previous year to US$39.92 billion. Earnings per share rose 8 per cent to US$4.62 and net asset value per share grew 4 per cent from the end of 2013 to US$51.79 as at the end of last year.

For Jardine Strategic, net profit climbed 7.8 per cent to US$1.83 billion even though revenue slid 1.3 per cent to US$32.24 billion from the preceding year. Earnings per share expanded 8 per cent to US$3.02 and net asset value per share shot up 15 per cent from US$50.34 as at the end of 2013 to US$57.75 as at the end of 2014.

The Jardine empire's ultimate holding company is Jardine Matheson and the secondary holding company is known as Jardine Strategic. Both companies hold stakes in each other.

Jardine Matheson proposed a final dividend of US$1.07 and Jardine Strategic a final dividend of 19 US cents.

Shares of Jardine Matheson lost US$1.10 to close at US$64.54 while Jardine Strategic shares shed 43 US cents to end at US$35.10 on Thursday.