SINGAPORE: Land transport operator ComfortDelGro posted on Friday (Nov 13) a 5.4 per cent rise in third quarter net profit, helped by higher revenues from its bus, taxi and train operations.
ComfortDelGro earned S$85.2 million in the three months ended September, up from S$80.8 million in the same period a year ago. Revenue increased by 1 per cent to S$1.048 billion.
Commenting on its Singapore operations, which contribute to around 50 per cent of operating profit, ComfortDelGro said revenue from the bus business increased by 5.3 per cent to S$214.2 million.
Revenue from its taxi businesses in Singapore rose by 2.8 per cent to S$253.9 million, while revenue from rail increased by 7.3 percent to S$54.7 million.
Average daily ridership for the North East Line grew by 4.2 per cent to 549,000 while average daily ridership on the Downtown Line rose 15.2 percent to 78,000. Revenue from inspection and testing services, however, decreased by 6 per cent to S$26.4 million.
Looking ahead, ComfortDelGro said revenues from its bus, taxi and rail businesses are expected to be higher, but revenues from automotive engineering services and inspection and testing are likely to be lower.
ComfortDelGro is one of the world’s largest land transport companies with a total fleet size of over 46,500 buses, taxis and rental vehicles. Headquartered in Singapore, the group also has operations in China, the United Kingdom, Ireland, Australia, Vietnam and Malaysia. Currently, overseas ventures account for 49.4 per cent of group operating profit.
