- See ComfortDelGro's announcement dated 24 Feb 2023 – FY22 posted strong recovery, but were below expectations due to backpay deal and higher electricity costs.
- ComfortDelGro (SGX:C52)'s FY22 revenue and net profit up 7.9% and 40.7% y-o-y to S$3.78bn and S$173.1m, respectively. Growth was driven mainly by Public Transport and Taxi on the back of post-COVID re-opening, negated by lower government reliefs.
- - Read this at SGinvestors.io -
ComfortDelGro's 4Q22 operating profit improved by 22.2% y-o-y, but saw 23.4% q-o-q decline.
- - Read this at SGinvestors.io -
- ComfortDelGro had S$7.6m in government reliefs in 4Q21, and this has tapered to S$4.4m in 4Q22, which was from China to support the taxi business.
Overseas contribution declined by 3.8% point y-o-y, impacted by FX translation and strong rebound in Singapore.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Andy SIM CFA DBS Group Research | Singapore Research Team DBS Research | https://www.dbs.com/insightsdirect/ 2023-02-27
Read also DBS's most recent report:
2024-03-11 ComfortDelGro - 3 Reasons For A Share Price Re-rate.
Previous report by DBS:
2023-11-15 ComfortDelGro - UK Public Transport Turning A Corner.
Price targets by 7 other brokers at ComfortDelGro Target Prices.
Listing of research reports at ComfortDelGro Analyst Reports.
Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividends & Corporate Actions,
ComfortDelGro News Articles
