Highlights

  • Underlying profit and underlying earnings per share grow by 5% and 14%, respectively
  • Strong performance in Southeast Asia, led by Astra
  • Continued pressure on China (including Hong Kong) in the second half
  • Full year dividend of US$2.15, up 8%

Analysis of underlying profit attributable to shareholders of US$1,584 million

By business*
By sector*

0%

US$417m
Property

0%

US$561m
Motor vehicles

0%

US$475m
Engineering,
heavy equipment,
mining, construction
& energy

0%

US$76m
Retail & restaurants

0%

US$154m
Financial services

  

US$0m
Hotels^

0%

US$51m
Others

By geographical area*
55%

Southeast Asia

39%

China

6%

Rest of the World

Strategic priorities

The Group works with our businesses to deliver on our strategic priorities of:

2022 financial highlights

US$100000m

Gross revenue
 

US$4000m

Underlying profit before taxΩ
 

US$30000m

Revenue
 

US$300m

Profit attributable to shareholders

US$80000m

Total assets
 

400000

People employedΔ
 

US$20000m

Shareholders’ funds
 

US$1000m

Underlying profit attributable to shareholdersΩ

US$7000m

Net borrowings#
 

US$9000m

Total capital investment
 

Results

2022
US$m
2021
US$m
Change
%
Gross revenue including 100% of associates and joint ventures
114,758
109,370
5
Revenue
37,724
35,862
5
Underlying profit before tax
4,930
4,117
20
Underlying profit attributable to shareholdersΩ
1,584
1,513
5
Profit attributable to shareholders
354
1,881
(81)
Shareholders’ funds
28,826
29,781
(3)

US$

US$

%
Underlying earnings per shareΩ
5.49
4.83
14
Earnings per share
1.22
6.01
(80)
Dividends per share
2.15
2.00
8
Underlying earnings per share (US$)
2018
4.40
2019
4.23
2020
2.95
2021
4.83
2022
5.49
Net asset value per share (US$)
2018
69.19
2019
81.90
2020
81.32
2021
102.87
2022
99.47

*Based on underlying profit attributable to shareholders before corporate and other interests, which amounted to US$1,740 million.

^Insignificant contribution from Mandarin Oriental.

The 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 41 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.

ΔIncludes major associates and joint ventures.

#Excluding net borrowings of financial services companies.

Including expenditure on properties for sale and in associates and joint ventures..