Highlights

  • Underlying profit up 5% to US$1.66 billion (+7% at CER°)
  • Record performance in South East Asia, driven by Astra
  • Strong recoveries at DFI Retail and Mandarin Oriental
  • Significant capital investments at Astra to drive future growth
  • Full year dividend up 5% to US$2.25

°CER means Constant Exchange Rates

Diversified portfolio of quality businesses

Underlying profit attributable to shareholders of US$1,661 million
(2022: US$1,584 million)

Leveraging the growing prosperity of Asia

*Based on underlying profit attributable to shareholders before corporate and other interests, which amounted to US$1,765 million in 2023 (2022: US$1,740 million).

2023 financial highlights

Revenue
(US$ billion)
US$1bn
2019
40.9
2020
32.6
2021
35.9
2022
37.5
2023
36.0
DPS
(US$)
US$1
2019
1.72
2020
1.72
2021
2.00
2022
2.15
2023
2.25
Underlying EPSΩ
(US$)
US$1
2019
4.23
2020
2.95
2021
4.83
2022
5.49
2023
5.74
Reported EPS
(US$)
US$1
2019
7.56
2020
2021
6.01
2022
1.22
2023
2.37
Cash flows from operating activities
(US$ billion)
US$1bn
2019
4.9
2020
5.3
2021
5.1
2022
4.8
2023
4.6
Net debt & gearing %#
(US$ billion)
US$1bn & 15%
2019
4.8
0%
2020
3.7
0%
2021
6.6
0%
2022
7.5
0%
2023
8.4
0%

Results

2023
US$m
2022
US$m
Change
%
Revenue
36,049
37,496
(4)
Underlying profit before taxΩ
5,034
4,930
2
Underlying profit attributable to shareholdersΩ
1,661
1,584
5
Profit attributable to shareholders
686
354
94
Shareholders’ funds
29,010
28,850
1
Capital investments
4,668
3,507
33

US$

US$

%
Underlying earnings per shareΩ
5.74
5.49
5
Earnings per share
2.37
1.22
94
Net asset (book) value per share
100.31
99.55
1
Dividends per share
2.25
2.15
5
 
People employed
285,000

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.

#Excluding net borrowings of financial services companies.