SMRT swings back to $16.9m profit in Q4

Singapore

SMRT Corp trundled to a $16.9 million net profit for the fourth quarter ended March 31, 2014, from a $12 million loss for the same period a year ago, thanks to its stronger non-fare business and smaller losses from bus operations.

Revenue was 2.9 per cent higher at $289.5 million on higher contribution from its rail, bus and non-fare businesses.

SMRT is Singapore's main rail operator and also operates a smaller fleet of buses and taxis.

Rail revenue for Q4 rose 1.7 per cent to $156 million, with an operating profit of $458,000. Bus revenue climbed 4.9 per cent but t…