- After a slow season in 1Q, ComfortDelGro (SGX:C52) saw earnings pick-up with 2Q24 PATMI of S$54.7m (+19.7% y-o-y; +34.7% q-o-q). This brought 1H24 net profit to S$95.3m (+21.4% y-o-y), which represents ~47%/45% of the MIBG/consensus’ full year estimates.
- - Read this at SGinvestors.io -
Public transport saw improved margins
- 2Q public transport revenue grew 6.1% y-o-y and 4.5% q-o-q to S$774.6m, while EBIT margin improved by 0.8ppt q-o-q to 4.0%. This was mainly attributed to UK bus contract renewals at better margins and seasonality in scheduled bus activities.
- Meanwhile, Metroline will add four public bus franchises in Greater Manchester commencing 5 Jan 2025, further expanding the group’s presence across the UK.
- - Read this at SGinvestors.io -
Taxi & private hire lifted by A2B contribution
- Read more at SGinvestors.io.
Above is the excerpt from report by Maybank Research.
Clients of Maybank Securities may be the first to access the full report in PDF @ https://www.maybanktrade.com.sg/.
Eric Ong Maybank Research | https://www.maybank-ke.com.sg/ 2024-08-14
Read also Maybank's most recent report:
2025-01-07 ComfortDelGro - Stuck In Comfort Zone; HOLD As We Await For Better Entry Price.
Previous report by Maybank:
2024-11-15 ComfortDelGro - Take A Break.
Price targets by 4 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
