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Jardine Cycle & Carriage reports record underlying earnings of US$522 mil for 1HFY2022

The Edge Singapore
The Edge Singapore7/28/2022 06:34 PM GMT+08  • 1 min read
Jardine Cycle & Carriage reports record underlying earnings of US$522 mil for 1HFY2022
The company plans to pay an interim dividend of 28 US cents per share, versus 18 US cents paid for 1HFY2021.
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Jardine Cycle and Carriage has reported earnings of US$US$487 million, up 115% over the year-earlier 1HFY2021.

Its so-called underlying profit, which the company says is a more accurate measure of its operating performance, was up 51% y-o-y to a record US$522 million.

Revenue in the same period was US$10.7 billion, up 29% y-o-y, with higher contributions from its units especially Indonesia-based Astra International.

The company plans to pay an interim dividend of 28 US cents per share, versus 18 US cents paid for 1HFY2021.

“Astra’s performance, in particular, benefited from improved economic conditions and higher commodity prices,” says chairman Ben Keswick.

He expects results in the second half of the year to remain strong, “although it remains cautious as a result of global economic challenges, ongoing geopolitical developments and the continuing impact of the pandemic.”

See also: Banyan Tree announces improved earnings in business update

Jardine C&C shares closed on July 28 at $27.25, up 0.48%.

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