Jardine Matheson Fiscal Year Profit To Remain Broadly In Line With Last Year

LONDON-- Asia-focused Conglomerate Jardine Matheson Holdings Ltd. (JAR.LN) Friday reported a rise in interim net profit and predicted full year profit in line with last year, but underlying earnings fell amid mixed trading across its businesses.

Net profit for the six months ended June 30 rose to $818 million from $784 million over the same period the previous year, but underlying net profit and revenue were both down 2%, to $739 million and $30.8 billion respectively.

The company, whose businesses include hotel group Mandarin Oriental and real estate company Hongkong Land, lifted its dividend by 3% to 38 cents.

"The Group did well to maintain its first-half results in the face of a weaker Indonesian rupiah, fewer residential project completions and increased margin pressures in some of its businesses," said chairman Henry Keswick.

"The full-year profit is also expected to remain broadly in line with last year," he added.

-Write to Rory Gallivan at [e-mail]; Twitter: @RoryGallivan

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