ComfortDelGro raises Q1 profit by 8.6% to S$73.4m

Singapore

COMFORTDELGRO's bus and taxi businesses were the main drivers of net profit in the first quarter ended March 31, 2016, lifting it 8.6 per cent to S$73.4 million, as group revenue climbed 3.3 per cent to S$995.6 million.

The land transport giant said Q1 revenue growth also came from the rail and driving centre businesses, offset by decreases in the automotive engineering services, inspection and testing services and bus station businesses.

ComfortDelGro said that while group revenue increased by S$43 million, this was eroded by an unfavourable foreign currency translation of S$10.9 million from the weaker p…