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SBS Transit's full-year profit falls 39.8%

Revenue rises 6.9% but is outpaced by total operating expenses

BUS and rail operator SBS Transit posted a 39.8 per cent drop in full-year profit as higher costs outweighed revenue growth in its key businesses. Net profit for the year ended Dec 31 fell to $11.2 million, or 3.62 cents per share, as net profit margin shrank by one percentage point to 1.3 per