Metro Holdings Limited has reported a loss after tax of S$203.1m for the financial year ending 31 March 2026, a slight improvement from the S$224.7m loss recorded in FY2025. The property investment and development group cites prolonged headwinds in China’s property sector as the primary reason for the losses.
The group’s property division faced significant challenges, including a fair value loss of S$88.2m from China properties held under associates and joint ventures. Additionally, Metro’s 20.5%-owned associate, Top Spring, contributed a share of loss amounting to S$65m, primarily due to fair value and impairment losses. An impairment loss of S$30.2m was also recorded on amounts due from associates, mainly from co-investments with BentallGreenOak.
Despite these setbacks, Metro Holdings managed to partially offset losses with contributions of S$16.2m from properties in Singapore, the UK, and Australia. However, the Retail Division reported a loss after tax of S$11.4m, exacerbated by lower revenue and gross margins amidst challenges in Singapore’s retail sector.
Metro’s Chairman, Tan Soo Khoon, commented on the challenging environment, stating, “Against a backdrop of ongoing geopolitical tensions, economic uncertainty and elevated policy unpredictability, Metro continues to navigate a challenging environment across its key markets.”
The company maintains a healthy balance sheet with net assets of S$0.9b and proposes a final dividend of 2.0 Singapore cents per ordinary share. Looking forward, Metro aims to strengthen its portfolio across geographies and asset classes, positioning itself to seize future opportunities.
