Jardine Matheson Holdings Limited has reported its results for the first half of 2024, with underlying profit attributable to shareholders at US$550 million and underlying earnings per share at US$1.91. The company's interim dividend remains stable at US$0.60. The results were impacted by impairments in Hongkong Land's Chinese mainland Development Properties business and challenging market conditions in Indonesia and Vietnam. However, there was an encouraging improvement in DFI Retail's year-on-year performance, with underlying profit up 127%.

The Group's underlying net profit attributable to shareholders for the first half of 2024 was US$550 million, 33% below the same period last year. This significant drop principally reflected a weaker contribution from Hongkong Land, mainly due to non-recurring impairments taken against certain development projects on the Chinese mainland. The Group's underlying profit before the impairments at Hongkong Land was down 14% (9% at constant exchange rates). Underlying earnings per share decreased by 33% to US$1.91.

The Group continued to progress its strategic objectives in the first half of the year, with significant developments including the announcement of a US$1 billion transformation project for the LANDMARK retail portfolio in Hong Kong by Hongkong Land. The Group also divested non-strategic and lower-yielding assets, such as the disposal of the Group's 50% shareholding in Jardine Aviation Services and the sale of DFI Retail's Hero supermarket business in Indonesia.

The Group's portfolio continued to evolve, with Mandarin Oriental achieving the topping-out of One Causeway Bay, its Grade A office development, and the opening of four new hotels, bringing the total number of hotels under its management to 40. The Group increased its shareholdings in Mandarin Oriental, now holding an 85% interest in the company.

In conclusion, the Group's results for the first half of 2024 were impacted by various factors, including impairments and challenging market conditions. However, the company remains focused on delivering sustainable long-term value and growth from its growing markets in Asia, with a strong balance sheet and a continued focus on strategic portfolio evolution and growth initiatives.