ComfortDelgro – TODAY

ComfortDelgro’s Q1 profit at S$53.5 million

Transport operator ComfortDelgro on Monday reported a 6.8 per cent rise in first-quarter net profit from the year-earlier period to S$53.5 million as revenue grew 6.5 per cent to S$855.4 million.

The taxi business led growth, accounting for about 43 per cent of the increase in group turnover, followed by the bus business with 34 per cent, the automotive engineering services business with 17 per cent, the rail and vehicle inspection and testing businesses with about 4 per cent each, and the bus station business with about 2 per cent.

These more than offset declines in revenue by the driving centre and car rental and leasing businesses, it said.

Revenue from the ComfortDelgro’s overseas operations accounted for 40.7 per cent of total turnover, it added.

ComfortDelGro is one of the world’s largest land transport companies with a total fleet size of over 46,400 buses, taxis and rental vehicles. Based in Singapore, it also has operations in China, the United Kingdom, Ireland, Australia, Vietnam and Malaysia.

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