SMRT's Q3 profit falls 44% to $14.23m
Fare business turns in $9m operating loss; revenue up 4%
SMRT Corp's net profit tumbled 44.1 per cent year on year to $14.23 million for the third quarter ended Dec 31, 2013, dragged down by its fare business which turned in a $9 million operating loss.
Revenue climbed 4.1 per cent to $293.3 million but operating profit fell 37.2 per cent to $20.1 million. Earnings per share worked out to 0.9 cent in the quarter, down from 1.7 cents a year earlier.
Operating expenses climbed 10.6 per cent to $283.82 million mainly on higher staff and depreciation expenses. Staff costs rose 21.4 per cent to $11…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade