Metro Holdings financial result, chart with support resistance

Metro Holdings is a property development and investment group, backed by an established retail business. Its property arm not only owns and manages several prime retail properties in first-tier cities in China, but also holds significant investments in a number of property businesses in China, including stakes in listed companies such as Shui On Land and Top Spring International Holdings.

13 Feb 2017

Oct 2016
Revenue fell 26.1% to $28.3 million from $38.3 million a year ago on the back of lower retail sales, which decreased by 28% to $42.3 million as sales of Metro City Square and Metro Sengkang ceased upon their closure.

Profit a 12.6% decline in 2Q17 to $16.2 million from $18.6 a year ago.

Jan 2017
Earnings of $20.5 million for 3Q17, a 63.3% decline from $56 million in 3Q16 due to lower income from its associates.
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.
Group revenue for the quarter fell 9% to $37.3 million from $41.0 million in the previous year, largely due to the lower revenue contribution from the closure of the retail division's Metro City Square department store in mid 3Q16.
Revenue from its property division was also affected by the weakening of the Renminbi, which led to a decrease of $0.3 million to $1.6 million in 3Q17.