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Metro Holdings' Q3 profit nearly doubles to $29.3 million

Published on Feb 10, 2014 8:41 PM

Metro Holdings has reported a 91.2 per cent hike in third quarter net profit to $29.3 million, helped largely by its acquisition of an additional stake in EC Mall in Beijing.

A negative goodwill of $19.1 million was recorded, boosting its other income to $26 million for the three months ended Dec 31, compared to $10 million in the same period a year ago.

The negative goodwill was the difference between the net fair value and the cost of the investment.

Revenue also rose 7.7 per cent to $54.5 million on higher rental income from Metro's property unit.

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