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Metro reports lower 1HFY2024 earnings, acquires 20% stake in VisionCrest for up to $40 million

The Edge Singapore
The Edge Singapore • 2 min read
Metro reports lower 1HFY2024 earnings, acquires 20% stake in VisionCrest for up to $40 million
Metro is taking an effective stake of 20% in VisionCrest for $40 million / Photo: Metro Holdings
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Metro Holdings has reported earnings of $8.2 million for its 1HFY2024, down 51.5% y-o-y, as the combination of higher financing costs, weaker retail earnings and fair value on its UK properties booked weighed down on the bottomline.

On the other hand, the company booked a lower share of fair value loss on its investment properties in China.

Revenue in the same six months ended Sept period was down 6.9% y-o-y to $50.2 million, with lower rental income contributing to the dip as well.

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