- ComfortDelGro’s indirect subsidiary CDC NSW has won an >AUD200m 8- year outer metropolitan bus contract in Australia – it will commence in Jul 2024.
- While earnings contributions from the contract will be insignificant, we view it as a positive sign of ComfortDelGro’s continuous growth in Australia. Australia represents ComfortDelGro’s largest investment outside of Singapore and accounted for ~19% of FY22 operating profit.
- - Read this at SGinvestors.io -
New Australian contract.
- ComfortDelGro (SGX:C52)’s indirect subsidiary, CDC NSW, has won an outer metropolitan bus contract worth over AUD200m, in New South Wales (NSW). The contract was awarded to Red Bus CDC NSW, a 50:50 JV between CDC NSW and Red Bus Services, an established NSW bus operator with over 80 years of experience.
- - Read this at SGinvestors.io -
Limited earnings impact, but ComfortDelGro is building strong capabilities outside Singapore.
- Read more at SGinvestors.io.
