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Metro posts Q4 earnings of S$34.2m

Surge comes largely from associate's tax-provision write-back, sharp fall in general and admin expenses, and absence of impairment

Published Tue, May 30, 2017 · 09:50 PM

Retail

Singapore

PROPERTY and retail group Metro Holdings' fourth-quarter bottom line swelled to S$34.2 million, from just S$1.2 million a year ago, despite a small rise in revenue and poorer gross margins.

Associates were a key contributor for the three months ended March 31, 2017, with Metro's net share of their results S$12.2 million higher at S$20.1 million. Metro said this was due mainly to the group's $30.2 million share of a tax-provision write-back by Top Spring.

Also helping was the absence this time round of a S$9.5 million impairment o…

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