Jardine Matheson posts FY net loss of US$394m

Singapore

JARDINE Matheson Holdings (JMH) on Thursday reported a full-year net loss of US$394 million, reversing from a net profit of US$2.84 billion a year ago, largely due to weaker performances by Astra and Jardine Cycle & Carriage, as well as decreases in property valuations.

Without the decreases in property valuations totalling some US$1.4 billion, the group would have recorded a US$1.09 billion net profit for the year ended Dec 31, 2020, 32 per cent lower than the year ago.