Metro’s 1Q earnings plunge 74% to $9.7 mil on absence of gain

SINGAPORE (Aug 10): Metro Holdings posts earnings of $9.7 million in 1Q17, 74% lower than the $37.5 million recorded in the same quarter last year.

This was largely due to the absence of a one-off net gain of $38.1 million from the disposal of the group’s 50% interest in the joint venture owning EC Mall in Beijing in 1Q16, Metro says in an SGX filing on Wednesday.

Group revenue fell 25.4% to $31.89 million in 1Q17, from $42.71 million in the same period last year.

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