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ComfortDelGro's profit up 5% to S$317m

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ComfortDelgro Corporation and Uber Technologies are in exclusive discussions to form a potential strategic alliance, which may include collaboration in fleet management and booking software solutions in Singapore.

COMFORTDELGRO's net profit for the year ended Dec 31, 2016, rose 5.0 per cent from a year ago to S$317.1 million, as group revenue slipped 1.3 per cent to S$4.06 billion on an unfavourable foreign currency translation of S$124.4 million. The land transport giant said otherwise, revenue would have increased by 1.8 per cent to S$4.18 billion.

No fourth quarter figures were given.

Earnings per share was 14.72 cents, up from 14.07 cents a year earlier. A tax-exempt one-tier final dividend of 6.05 cents per ordinary share has been proposed, up from 5.0 cents the previous year.

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