ComfortDelGro’s 1Q earnings rise 8.6% to $73.4 mil

SINGAPORE (May 12): Transport group ComfortDelGro reported 1Q earnings of $73.4 million, 8.6% higher than the year before. This came on the back of higher revenue, but was partially offset by higher operating costs.

Group revenue of $995.6 million in 1Q16 was $32.1 million or 3.3% higher compared to $963.5 million for 1Q15. This was driven by its bus, rail, taxi and driving centre businesses but dragged down by an unfavourable foreign currency translation of $10.9 million from a weaker £, A$ and RMB.

Revenue for the group’s bus business increased 3% to $492.3 million, while taxi business rose 3.7% to $333.7 million. Rail business grew 27.5% to $65 million due to increase in average daily ridership.

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