Metro posts Q3 profit of S$63.9m

Singapore

METRO Holdings' net profit for the third quarter ended December more than doubled, from S$29.3 million to S$63.9 million, thanks to a bump in share of associates' results.

Share of results of associates came in at S$66.9 million for the quarter, versus a profit of S$3.6 million a year ago, mainly due to a gain from the disposal of the group's 10.7 per cent interest in the associated companies owning six Tesco Lifespace developments in China, of $27.0 million.