ComfortDelGro's Q2 net profit down 6.8% at S$79.4m

Singapore

COMFORTDELGRO'S net profit for the second quarter ended June 30 fell 6.8 per cent to S$79.4 million due mainly to the taxi and automotive engineering businesses, as revenue slipped 3.4 per cent to S$987.2 million from the same period last year.

Of the land transport giant's S$35.1 million decrease in revenue, more than half or S$18.2 million was from an unfavourable foreign currency translation and S$16.9 million from the underlying business.

Of the unfavourable foreign currency translation, the weaker pound sterling accounted for S$20.4 million and the weaker Chinese yuan for S$1.1 million, offset by the stronger Australian …