You are here

Metro's Q1 bottom line boosted by contributions from associates, JV

Friday, August 11, 2017 - 17:59

PROPERTY and retail group Metro Holdings' first-quarter net profit jumped by more than 160 per cent year on year to S$25.38 million as the bottom line was boosted by higher share of results from associates and joint venture (JV).

Revenue edged up by around 1.7 per cent to S$32.42 million as the retail division reported higher sales, while earnings per share increased from 1.2 Singapore cents to 3.1 Singapore cents.

"Net profit was lifted by a higher contribution from associate, Top Spring, on disposal of certain interests in a subsidiary and joint venture," said Metro. "Share of results of joint ventures was also lifted by a narrowed fair value loss on investment properties over the same corresponding period."

Share of associates' results (net of tax) rose from S$4.8 million to S$13.6 million, while share of joint ventures' results (net of tax) grew from S$6.49 million to S$8.08 million.

sentifi.com

Market voices on:

In addition, the group saw an increase in other income, partly due to a gain on disposal of an investment property.

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom