By Sabela Ojea
Jardine Matheson Holdings Ltd. reported on Thursday a swing to net profit for the first half of 2022, but said that earnings growth will substantially moderate for the full year.
The Asian conglomerate posted a net profit of $423 million compared with a loss of $117 million for the same period a year earlier.
Revenue increased to $18.28 billion from $17.49 billion for the same period a year earlier.
The board has declared an interim dividend of 55 cents a share, up from 44 cents a year earlier, it said, adding that the payout to shareholders raise reflects strong earnings per share growth.
"There was a strong improvement in the group's profitability in the first half, however, earnings growth will substantially moderate for the full year, as Covid-19 continues to impact the Group's businesses, particularly in Hong Kong and on the Chinese mainland," Executive Chairman Ben Keswick said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
07-28-22 0910ET