Metro to press on with diversification strategy, cautiously optimistic on outlook

The company wants to grow its footprint in countries where it already has a presence.

Nisha Ramchandani

Published Mon, Mar 21, 2022 · 05:50 AM

Singapore

MAINBOARD-LISTED Metro Holdings will continue to diversify its portfolio and grow its presence in different markets as the world gradually loosens restrictions and makes the transition to endemic living.

With the ongoing Russia-Ukraine conflict and the pandemic dragging on, 2022 is shaping up to be a volatile year. Still, Metro's group chief executive Yip Hoong Mun is cautiously optimistic that this year could be better than the last two years.

Yip said: "We are cautiously optimistic partly because many countries have started lifting their restrictions. We can see that some businesses are getting a little bit back to normal."

The homegrown retailer, which celebrated its 65th anniversary this year, started out with one textile store in High Street back in 1957 before growing into a well-known local department store chain. By the time it was listed on the Singapore bourse in 1973, Metro had a portfolio of three stores, before it went on…