Additionally, the group saw lower profit from its retail division due to lower gross margins and increased cost. However, these were partially offset by higher other net incomes and higher share of fair value gain from the group’s 30%-owned portfolio of purpose-built student accommodation (PBSA) properties in the UK.
Metro Holdings has reported earnings of $3.6 million for the 1HFY2025 ended Sept 30, 56.4% lower y-o-y from the same period last year.
Similarly, the group’s profit before taxation dropped by 36% y-o-y to $7 million in the same period. This came on the back of China’s protracted property market downturn, which negatively impacted the group’s property division, with higher fair value losses from China investment properties by $11.1 million.
