Metro Holdings has sunk into losses of $12.9 million for 1HFY2026 ended Sept 30, compared to a profit of $7 million in the same period a year ago.
The group’s revenue for the 1HFY2026 declined 13.9% y-o-y to $41.6 million, from lower contributions from the retail division and lower rental income from GIE Tower in China.
The group says that its 1HFY2026 performance was impacted by lower interest income, higher share of loss of associates and lower share of profits of joint ventures attributable to higher fair value loss on China properties as well as lower contributions from the retail division.
This was partially mitigated by lower finance costs.
As at Sept 30, the average occupancy for the group’s four investment properties was 78.9%, an increase from the 77.5% in the previous year.
Metro had net assets of $1.1 billion and total assets of $2 billion as at Sept 30.
Shares in Metro closed 1.5 cents lower or 2.752% down at 53 cents on Nov 14.
