- 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.
