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Lower fuel costs lift SBS Transit Q1 profit

But it warns of increased spending on staff, rail repairs and maintenance in the quarters ahead

Published Wed, May 11, 2016 · 09:50 PM

Singapore

LOWER fuel costs bolstered first-quarter earnings from bus and train operator SBS Transit, though it warned of higher spending on staff as well as repairs and maintenance, in the quarters ahead.

On Wednesday it reported a 69.5 per cent jump in first-quarter net profit. Net profit for the three months ended March 31, 2016, stood at S$8.08 million, up from S$4.77 million a year ago. This translated to earnings per share of 2.61 Singapore cents, up from 1.54 Singapore cents.

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