ComfortDelGro full-year profit up 6.5% at S$301.9m

NET profit of transport operator ComfortDelGro grew by 6.5 per cent to S$301.9 million for the financial year 2015 as revenue grew in its transport businesses.

The group posted an earnings per share of 14.07 Singapore cents, up from 13.29 Singapore cents in 2014.

A tax-exempt one-tier final dividend of five Singapore cents has been proposed, up from 4.5 Singapore cents the previous year.

Revenue, though eroded by foreign currency exchange volatility, grew by 1.5 per cent for the full year to S$4.1 billion. The group stated that actual revenue increased by S$83.2 million, but this was partially offset by a negative foreign currency translation effect of S$23.0 million.

Revenue growth came from better performances seen in the bus, taxi, rail, and car rental and leasing businesses, with rail and car rental seeing the most growth. Sales weakened in the automotive engineering services, inspection and testing services business, driving centre and bus station businesses.

Looking ahead, ComfortDelGro sees more revenue growth in its rail businesses as the second phase of Downtown Line is now open. It expects a recent fare reduction to negatively impact revenue from its bus business in Singapore.

ComfortDelGro shares closed four Singapore cents lower at S$2.79 on Friday.