The decline in overall group earnings was mainly due to profit before tax (PBT) for Metro’s core property division falling to $20.4 million in 3Q17 from $58.8 million a year ago. This was largely attributable to a $48.9 million decrease in share of results of associates in 3Q17 as a result of lower sales recognition on handover of properties for the group’s Nanchang project.
SINGAPORE (Feb 13): Metro Holdings has posted earnings of $20.5 million for 3Q17, a 63.3% decline from $56 million in 3Q16 due to lower income from its associates.
As a result, earnings per share (EPS) for the property firm and operator of department stores has dropped to 2.5 cents for the quarter from 6.7 cents in the previous corresponding period.
