GROUP RESULTS

Year ended 31st December

2022
US$m		 2021
US$m		 Change
%		 2022
S$m
Revenue 21,793 17,688 23 30,065
Profit after tax 2,456 1,718 43 3,388
Underlying profit attributable to shareholders* 1,096 786 39 1,512
Profit attributable to shareholders 740 661 12 1,021
Shareholders‘ funds 7,140 7,368 (3) 9,600
US¢ US¢ % S¢
Underlying earnings per share* 277 199 39 383
Earnings per share 187 167 12 258
Dividend per share 111 80 39 153
US¢ US¢ % S¢
Net asset value per share 18.07 18.64 (3) 24.29

GROUP HIGHLIGHTS

chart-underlying-profit-by-sector
chart-underlying-profit-by-countries

The exchange rate of US$1=S$1.34 (31st December 2021: US$1=S$1.35) was used for translating assets and liabilities at the balance sheet date, and US$1=S$1.38 (2021: US$1=S$1.34) was used for translating the results for the period.

* The Group uses 'underlying profit attributable to shareholders' in its internal financial reporting to distinguish between ongoing business performance and non-trading items. Items classified as non-trading items include: fair value gains or losses on revaluation of investment properties, agricultural produce and equity investments which are measured at fair value through profit and loss; gains or losses arising from sale of businesses, investments and properties; impairment of non-depreciable intangible assets, associates and joint ventures and other investments; provisions for closure of businesses; acquisition-related costs in business combinations and other credits and charges of a non-recurring nature that require inclusion in order to provide additional insight into the Group's underlying business performance.