Metro Q3 net hit by lower contributions from associates

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.