Jardine Matheson’s underlying profits rose 5 per cent to $1.66 billion, according to the latest financial statements from the firm.

The Bermuda-domiciled British multinational conglomerate said last night it delivered a “very solid” performance in 2023, benefiting from its diversified portfolio, with results above pre-pandemic levels.

The full year dividend was also up 5 per cent to $2.25.

However, revenue was at $3.05 billion, down 4 per cent from the previous year.

“Challenging conditions on the Chinese mainland and in Vietnam adversely impacted Zhongsheng, Hong Kong Land and Thaco,” executive director Ben Keswick said. “Astra, however, delivered a record performance in South East Asia and both DFI Retail and Mandarin Oriental drove strong recoveries.”

Mr Keswick thanked Jardine’s colleagues across the group for their unwavering commitment to their customers and businesses.

The group anticipates a challenging year ahead, as a result of “ongoing economic headwinds in key markets,” he said.

“But with new leadership in place across several group companies, and an effective long-term strategy, we are optimistic about the future and believe that we are well positioned to take advantage of opportunities for mid- and long-term growth.”