ComfortDelGro - OCBC Investment 2024-04-01: Switching Gears

• ComfortDelGro announced on 28 Mar 2024 that its wholly-owned subsidiary, Metroline Limited, has been awarded contracts worth GBP422m (~S$720m) to operate four public bus franchises in Greater Manchester, UK.

Significant addition to ComfortDelGro’s growing footprint in the United Kingdom (UK)

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ComfortDelGro has kept up a positive momentum of contract wins and acquisitions over the past year

• Since Jul 2023, ComfortDelGro (SGX:C52) has entered into two new markets, France and Sweden, by winning rail tenders in partnership with global transport operators RATP Dev and Alstom, and Go-Ahead Group, respectively. These contracts are expected to start contributing meaningfully to its share of profits from associates and joint ventures (JVs) come 2025.
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• With respect to inorganic growth,
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Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-02-28 ComfortDelGro - Getting Used To Shiny New Wheels.

Previous report by OCBC:
2024-11-15 ComfortDelGro - Acquisition-fuelled Growth.

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