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ComfortDelGro Q1 net profit halves on weak ridership amid virus outbreak

Q1 profit down 48.9% to S$36 million, revenue down 9% to S$862.4 million

Published Fri, May 22, 2020 · 09:50 PM

Singapore

THE net profit for transport giant ComfortDelGro Corporation fell 48.9 per cent on the year to S$36 million for the first quarter ended March 31, hit by weak ridership amid Covid-19-induced lockdowns in the markets in which it operates.

In its business update on Friday, ComfortDelGro said that various countries are now making plans to unravel their lockdowns. Nevertheless, social distancing will continue and recovery is expected to be gradual.