This was driven by significantly lower contribution from Zhongsheng and a reduced profit from Hongkong Land as a result of the non-cash impairments it incurred in respect of its build-to-sell segment on the Chinese mainland.
Hong Kong-based conglomerate Jardine Matheson has reported a loss of US$468 million ($622.98 million) for FY2024 ended Dec 31, 2024, a contrast from earnings of US$686 million reported in the same period a year ago.
The group’s underlying net profit, which management considers to be the key measure of the group’s business performance, came in 11% y-o-y lower for FY2024 at US$1.47 billion.
