ComfortDelGro - Phillip Securities 2024-05-15: Zig Platform Led The Recovery

ComfortDelGro - Zig Platform Led The Recovery

Published:
ComfortDelGro (SGX:C52) | SGinvestors.ioComfortDelGro (SGX:C52)
  • ComfortDelGro (SGX:C52)'s 1Q24 results were within our expectations. Revenue and PATMI were 25%/20% of our FY24e forecast. 1Q24 net profit increased 24% y-o-y to S$40.6mil.
  • Taxi operations enjoyed the strongest growth with a 39% y-o-y jump in 1Q24 earnings. Public transportation continues to earn paltry operating margins of 3%, dragged down by lower margin contract renewals in Australia. 1Q is typically the weakest seasonally.
  • - Read this at SGinvestors.io -

The Positive

Operating leverage from Zig platform.

  • - Read this at SGinvestors.io -
  • Another boost to earnings was the turnaround in China from lower rental discounts.

The Negative

Decline in Australia earnings.

  • Read more at SGinvestors.io.




Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.




Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2024-05-15



Read also Phillip's most recent report:
2024-08-18 ComfortDelGro - Finally, UK Is A Source Of 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 Dividends & Corporate Actions,
ComfortDelGro News Articles





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