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ComfortDelGro's Q2 profit falls 6.8% to S$79.4m

LAND transport giant ComfortDelGro's net profit for the second quarter ended June 30 fell 6.8 per cent to S$79.4 million due mainly to the taxi and automotive engineering businesses, as revenue slipped 3.4 per cent to S$987.2 million from the same period last year.

Of the group's S$35.1 million decrease in revenue, more than half or S$18.2 million was from an unfavourable foreign currency translation and S$16.9 million from the underlying business.

Q2 earnings per share were 3.67 Singapore cents, down from 3.96 Singapore cents a year ago.

A tax-exempt one-tier interim dividend of 4.35 Singapore cents per ordinary share has been declared, up from 4.25 Singapore cents 12 months before.

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