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- Underlying net profit up 39% against 2020, 5% below 2019
- Increased earnings per share and enhanced corporate governance through simplification of Group’s parent company structure
- Underlying earnings per share US$4.83, up 64% against prior year and 14% higher than 2019
- Good recovery in Southeast Asia, led by Astra
- Motors business performs strongly, led by Zhongsheng and UK Motors
- Mandarin Oriental sees strong recovery with underlying loss significantly reduced
- DFI Retail transformation offsets continued operating challenges, but results impacted by associate Yonghui’s substantial loss
- Full year dividend at US$2.00, up 16%
Analysis of underlying profit attributable to shareholders of US$1,513 million
By business*
By sector*
%
US$484m
Property
%
US$520m
Motor vehicles
%
US$314m
Engineering,
heavy equipment,
mining &
construction
%
US$146m
Retail & restaurants
%
US$125m
Financial services
(%)
(US$48m)
Hotels
%
US$53m
Others
By geographical area*
China
Southeast Asia
Rest of the World
2021 financial highlights
US$m
Gross revenue
US$m
Underlying profit before tax
US$m
Underlying profit attributable to shareholders
US$m
Total assets
US$m
Shareholders’ funds
US$m
Net borrowings#
US$m
Total capital investment†
People employed
Results
|
2021
US$m |
2020
US$m |
Change
% |
|
|---|---|---|---|
|
Gross revenue including 100% of associates and joint ventures
|
109,370
|
90,906
|
20
|
|
Revenue
|
35,862
|
32,647
|
10
|
|
Underlying profit before taxΩ
|
4,117
|
2,786
|
48
|
|
Underlying profit attributable to shareholdersΩ Δ
|
1,513
|
1,085
|
39
|
|
Profit/(loss) attributable to shareholders
|
1,881
|
(394)
|
n/a
|
|
Shareholders’ funds
|
29,781
|
29,387
|
1
|
|
US$ |
US$ |
% |
|
|
Underlying earnings per shareΩ Δ
|
4.83
|
2.95
|
64
|
|
Earnings/(loss) per share
|
6.01
|
(1.07)
|
n/a
|
|
Dividends per share
|
2.00
|
1.72
|
16
|
Underlying earnings per share (US$)
Net asset value per share (US$)
*Based on underlying profit attributable to shareholders before corporate and other interests, which amounted to US$1,594 million.
#Excluding net borrowings of financial services companies.
†Including expenditure on properties for sale and associates and joint ventures.
ΩThe Group uses ‘underlying profit’ in its internal financial reporting to distinguish between ongoing business performance and non-trading items, as more fully described in note 40 to the financial statements. Management considers this to be a key measure which provides additional information to enhance understanding of the Group’s underlying business performance.
ΔImprovements to underlying profit attributable to shareholders and underlying earnings per share benefitted from the impact of the Company’s acquisition of the remaining 15% minority interest in Jardine Strategic. Excluding the impact of this Group simplification, increases in underlying net profit and underlying earnings per share in 2021 were 29% and 32%, respectively.
