- ComfortDelGro (SGX:C52)’s 1H24 results met our expectations, with revenue and net profit coming in at 50% and 50.2% of our initial full year forecast, respectively – 1H24 group revenue increased 13.7% y-o-y to S$2.1b, boosted by newly acquired CMAC and A2B, which together contributed S$128.5m to (or 6% of) group revenue.
- - Read this at SGinvestors.io -
- Together with higher finance costs due to higher borrowings to fund the aforementioned acquisitions, partially offset by higher net income from investments, ComfortDelGro reported a 1H24 net profit of S$116.1m, up 16.1% y-o-y.
Higher interim dividend
- ComfortDelGro has declared an interim dividend of 3.52 Singapore cents per share. This is 21.4% higher y-o-y and represents a dividend yield of 2.5% based on ComfortDelGro's share price of S$1.40 as at 14 Aug 2024.
- - Read this at SGinvestors.io -
Broad based growth across all segments
Public Transport segment
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
Ada Lim OCBC Investment Research | https://www.iocbc.com/ 2024-08-15
Read also OCBC's most recent report:
2024-11-15 ComfortDelGro - Acquisition-fuelled Growth.
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
