- ComfortDelGro (SGX:C52)'s 2Q23 PATMI of S$45.7m (+39.3% q-o-q) validates our earlier view that the company has turned the corner and is in the midst of an upturn. 1H23 net profit grew 36% h-o-h to S$78.5m, or about 52%/49% of MIBG/consensus full-year estimates.
- - Read this at SGinvestors.io -
- ComfortDelGro declared an interim dividend of S$0.029, representing a dividend payout ratio (DPR) of 80%, to our pleasant surprise. See ComfortDelGro's dividend date.
Improving fundamentals for Public Transport
- Public Transport revenue/EBIT rose 6.4%/25.7% q-o-q to S$730m and S$28.9m, respectively, on the back of improved Singapore rail ridership and fuel indexation but partially offset by FX impacts.
- - Read this at SGinvestors.io -
- ComfortDelGro's management also expects any new/renewal contracts will be tendered at significantly higher service fees to cater for higher operating costs and more rational bidding by other operators.
Taxi & Private Hire to shine further in 2H
- Read more at SGinvestors.io.
