- ComfortDelGro (SGX:C52)'s 1H24 net profit up 21.4% y-o-y, driven by contribution from new acquisitions and the Taxi & Private Hire segment. 1H24 revenue came in at S$2.1bn (+13.7% y-o-y) and earnings at S$95.3mil (+21.4% y-o-y). Top-line growth was partially driven by contribution from new acquisitions (A2B and CMAC). Stripping out the acquisitions, top-line growth would have landed at S$2.0bn, +6.8% y-o-y.
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Interim dividend of 3.52 cents declared.
- ComfortDelGro's interim dividend grew by 21%, in-line with earnings growth as the company maintained its 80% payout ratio.
Net cash with more room for leverage.
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Segmental commentary’s key highlights as follows:
Public Transport
2Q24 revenue at S$774.6mil (+6.1% y-o-y) and operating profit at S$31.2mil (+7.2% y-o-y).
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