- 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.
- - Read this at SGinvestors.io -
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.
- - Read this at SGinvestors.io -
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).
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Zheng Feng CHEE DBS Group Research | Andy SIM CFA DBS Research | https://www.dbs.com/insightsdirect/ 2024-08-16
Read also DBS's most recent report:
2024-09-12 ComfortDelGro - Underappreciated International Expansion.
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
