- Slightly above expectations, ComfortDelGro reported higher 9M24 revenue (+15.4% y-o-y), core operating profit (+20.5% y-o-y) and PATMI (+19.0% y-o-y), forming 80%/77%/72% of our full-year forecasts respectively.
- - Read this at SGinvestors.io -
Robust quarter.
- 3Q24 was a strong quarter whereby ComfortDelGro's overall revenue (+18.4% y-o-y, +6.1% q-o-q), core operating profit (+22.4% y-o-y, +9.2% q-o-q) and PATMI (+15.2% y-o-y, +5.1% q-o-q) were higher, driven by the taxi segment, a better profit profile from the UK business, along with higher-than-expected contributions from the consolidation of CMAC. As a result, 3Q24 operating profit from the UK surged to S$22.1m (3Q23:S$6.1m/2Q24:S$8.6m).
- - Read this at SGinvestors.io -
Public transport: Better margins from the UK business…
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-11-15
Previous report by UOB:
2024-10-29 ComfortDelGro 3Q24 Results Preview - Expect Stable Growth Despite Minor Headwinds.
Price targets by 3 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
