ComfortDelGro - DBS Research 2023-02-27: Zig To Your Office

• 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 an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-03-17 ComfortDelGro - Double-digit Earnings Growth Momentum To Sustain Into 2025.

Previous report by DBS:
2024-09-12 ComfortDelGro - Underappreciated International Expansion.

Price targets by 5 other brokers at ComfortDelGro Target Prices.

Listing of research reports at ComfortDelGro Analyst Reports.

Relevant links:
ComfortDelGro Share Price History,
ComfortDelGro Announcements,
ComfortDelGro Dividend Payout Dates & Corporate Actions,
ComfortDelGro News