Metro Holdings, the property developer and departmental store operator, today, reported a net profit of $15.5 million for the three months ended December 31, 2009 (3QFY2010). This was an increase from $603,000 in the previous corresponding quarter (3QFY2009).
The rise in net profit is mainly attributed to an unrealised gain in the fair value of the group’s portfolio of short-term investments of $7.7 million, compared to an unrealised decrease in fair value of $6 million in the previous corresponding period.
