ComfortDelGro: UK Shines Again

ComfortDelGro - Phillip Securities 2025-08-15: UK Shines Again

ComfortDelGro: UK Shines Again

SGinvestors.io

Published: 2025-08-16 03:08 PM

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ComfortDelGro's 1H25 revenue was within expectations, but net profit was below due to amortisation of acquisition intangibles. Revenue/PATMI were 46%/40% of our FY25e forecast. Acquisitions and repricing of London bus routes drove underlying earnings growth of 7% y-o-y to S$99mil in 1H25.

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ComfortDelGro is delivering stable growth through re-pricing of contracts, acquisitions, and new contracts. We expect a stronger 2H25 earnings driven by seasonally stronger CMAC and continued repricing of London bus routes. FY26 earnings will be supported by contributions from recent contract wins, namely Manchester bus and Stockholm rail.

The Positive

UK driving up group results.

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Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

SGinvestors.io

Paul Chew Phillip Securities Research | https://www.poems.com.sg/ 2025-08-15

Read also Phillip's most recent report:
2026-05-14 ComfortDelGro - Weakness In Taxi Spreads.

Previous report by Phillip:
2026-03-04 ComfortDelGro - Worsening Decline In Taxi Fleet.

Price targets by 5 other brokers at ComfortDelGro Target Prices.

Listing of research reports at ComfortDelGro Analyst Reports.

Relevant links:
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ComfortDelGro Announcements,
ComfortDelGro Dividend Payout Dates & Corporate Actions,
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