Metro Q3 net hit by lower contributions from associates
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Singapore
PROPERTY and retail group Metro Holdings' Q3FY17 bottom line was hit by lower contributions from associates, prompting profits to plunge 63.3 per cent year-on-year to S$20.49 million.
Share of associates' results fell to S$9.03 million from S$57.65 million due to lower contributions from the recognition on handover of sales of properties of the Nanchang project of S$37.8 million. In addition, the group's share of Top Spring's results declined by S$10.1 million as Top Spring also handed over, and recognised significantly fewer properties year on year.
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