Metro Q3 net surges 91% on 1-off gain
METRO Holdings' net profit soared 91.2 per cent to $29.3 million for the third quarter ended December, from $15.3 million a year ago, mainly due to a one-off gain of $19.1 million in negative goodwill on the acquisition of an additional interest in the jointly owned entities owning EC Mall in Beijing.
Revenue rose 7.7 per cent to $54.5 million from $50.6 million. This was largely due to higher rental income at the property division, the property development and investment group said yesterday.
Earnings per share rose to 3.5 cents from 1.8 cents a year earlier.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027