ComfortDelGro - Maybank Research 2024-03-01: A Strong Finish

• ComfortDelGro (SGX:C52)'s 4Q23 PATMI of S$52.1m (+4.4% q-o-q; +104.3% y-o-y) was mostly within our and market expectations. FY23 core earnings rose 26.6% y-o-y to S$180.5m, 101%/102% of MIBG/consensus full-year estimates.
• - Read this at SGinvestors.io -
• Notably, ComfortDelGro declared a final dividend of 3.76 cents, taking full year payout to 6.66 cents (or core dividend payout ratio of 80%, up from 70% in FY22). See ComfortDelGro's dividend dates.

Steady public transport performance

• - Read this at SGinvestors.io -
• We understand results of tenders for Transport for Greater Manchester bus packages in the UK are expected in 1Q24.
• The Jurong Regional Line and Cross Island Line Singapore rail tender results are expected by end-2024, while the Seletar bus package bid results are due by mid-2024.

Taxi and private hire is key growth driver

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-11-12 ComfortDelGro - Slow-moving Vehicle; 3Q25 Bottom Line Boosted By Depot Disposal Gains .

Previous report by Maybank:
2025-09-19 ComfortDelGro - Earnings Boost In The Pipeline.

Price targets by 3 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