Metro's Q2 profit up 54% at $30.56m

RETAIL and property group Metro Holdings has reported a net profit of $30.56 million for the second quarter ended Sept 30, 2013, up some 54 per cent year on year.

This is partly due to a $29.55 million gain from the completion of the sale of a warehouse property in Singapore that had been "underutilised".

Revenue edged up 2.6 per cent to $45.85 million while earnings per share came to 3.7 cents, up from 2.4 cents previously. The increase in revenue was due to higher rental income from the property division, which contributed $15.6 million, up from $14.4 million previously.