Jardine Matheson maintains full-year profit outlook as Q3 results remain consistent
Jardine Matheson maintains its full-year profit outlook after consistent Q3 results. Astra and United Tractors announced share buybacks up to $157.2m. Hongkong Land posted lower profits, while DFI Retail saw a 48% profit increase. Jardine Pacific and Mandarin Oriental reported higher profits. The group completed a $262m share buyback and plans a $327.5m buyback by 2026. Net debt at the parent level is $32.8m.
Group reports mixed underlying profit outcomes across subsidiaries
Jardine Matheson Holdings kept its full-year profit guidance after reporting consistent Q3 performance, as stated in a press release.
Astra recorded a modest decline in underlying profit for the quarter, and both Astra and United Tractors announced share buyback programmes of up to $157.2m (USD$120m). Astra also completed several portfolio transactions during the period. Underlying profit contributions across the group’s businesses were mixed.
Hongkong Land posted lower underlying profit compared with the Q3 2024. The group generated $860.7m (USD$657m) from the divestment of MCL Land, completed a $262m (USD$200m) share buyback, and allocated a further $196.5m (USD$150m) to the programme.
DFI Retail reported a 48% increase in underlying profit and net cash of $848.9m (USD$648m) at 30 September, compared with net debt of $613.1m (USD$468m) on 31 December 2024.
Jardine Pacific and Mandarin Oriental each reported higher underlying net profit. At the parent level, Jardine Matheson reported net debt of $32.8m (USD$25m) at end-October and launched a $327.5m (USD$250m) share buyback to be completed by end-2026.
(1 USD = 1.31 SGD)
