SBS Transit Q3 profit up 62% at S$5.7m

Singapore

SBS Transit's (SBST) net profit for the third quarter ended Sept 30, 2014, jumped 62.2 per cent to S$5.75 million as both its bus and rail businesses rode on higher average daily ridership and average fare, higher advertising sales and higher rental from renewals.

Third-quarter revenue climbed 13.6 per cent to of S$248.6 million compared to the same period a year ago.

Q3's bus revenue rose 11.8 per cent to S$197.6 million as average daily ridership grew 3.1 per cent to 2.8 million passenger trips. Operating profit was 4 per cent higher at S$5.5 million due mainly to higher revenue but this was…