ComfortDelGro expected to bounce back to growth in FY19F

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SINGAPORE (Aug 13): After a 3% drop in FY18F, ComfortDelGro is expected to show earnings growth in FY19, supported by increase in taxi fleet and further improvements in public transport contributions.

(See: ComfortDelGro reports 5.5% fall in 2Q earnings to $75 mil on higher costs)

In 2Q18 ended June, ComfortDelGro saw an increase in revenue mainly on contributions from its public transport segments which was up 7.4% y-o-y to S$66.1 million, which in turn was driven by higher mileage operated due to the commencement of the Seletar Bus Package and higher rail ridership.

In addition, new acquisitions contributed S$20.4 million or 2.3% y-o-y to topline although these were partially offset by drops in taxi business of 3.5% to S$31.6 million and a 1.2% y-o-y drop in automotive engineering services to S$10.7 million... (Click here to read the full story)