ComfortDelgro’s 3Q earnings rise 2.5% to $87.3 mil on lower expenditure

SINGAPORE (Nov 11): Transport group ComfortDelgro posted $87.3 million in earnings for 3Q16, 2.5% higher from $85.2 million in the same quarter a year ago on the back of lower expenditure, bringing earnings per share (EPS) in 3Q to 4.05 cents compared to 3.97 cents in 3Q15.

Group operating costs fell 3.3% to $888.2 million, as an increase of $12.4 million in actual operating costs was offset by a positive foreign currency translation effect of $43.0 million.

Revenue declined 3.1% to $1.015 billion from $1.047 billion in the previous year, due to an unfavourable foreign currency translation totalling to $47.9 million across the group’s bus and taxi segments, due to the weaker Sterling and Yuan.

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