- We project ComfortDelGro (SGX:C52) to record a PATMI of S$52m (+14% q-o-q, +61% y-o-y) for 3Q23F, riding on
- introduction of a platform fee in Jul 2023 for rides booked via its CDG Zig app in Singapore, and
- - Read this at SGinvestors.io -
3Q23: Further earnings recovery taking shape
- To recap, we forecast q-o-q revenue uplift of S$6m for ComfortDelGro's taxi segment in 3Q23F (likely flowing directly to its bottomline) as it had in Jul introduced a platform fee for rides booked via its CDG Zig app in Singapore.
- We also expect ComfortDelGro’s UK operations to return to EBIT positive in 3Q23F as the higher costs absorbed by ComfortDelGro are being gradually passed on to the government with annual indexation of public bus service fees on route anniversary.
Singapore rail operations likely turned profitable in 1H23F
- - Read this at SGinvestors.io -
- Meanwhile, demand for point-to-point (P2P) transport in Singapore continues to grow, with Jul’s average daily number of trips at 613k (+5% y-o-y) even as fares remain firm at high levels, according to our channel check.
Positioning for the future
- Read more at SGinvestors.io.
