Friday 29 Mar 2024
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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.

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)

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