Jardine Matheson projects modest profit decline in 2024

The company cited market conditions for the profit decline.

Jardine Matheson Holdings Limited expects its full-year underlying profits in 2024 to be "modestly" lower than in 2023 amidst current market conditions.

The company also expects noncash impairment charges in Hongkong Land’s development properties business on the Chinese mainland in 1H24 and lower commodity prices at Astra.

Hongkong Land also announced that it expects significantly lower underlying earnings in 1Q24 amidst deteriorating buyer sentiment in China's residential sector.

Astra also reported a 5% YoY drop in its underlying earnings in 1Q24.

Despite the declines, Jardine Matheson remains confident in the economic resilience of its markets.

"[We] believe we are well-positioned to benefit from their recovery," the company said.

Follow the link for more news on

Jardine Matheson

Financial Statements

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia