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.