SBS Transit posts record earnings; hikes dividend

Singapore

NEW government bus contracts introduced last year drove earnings sharply north for transport operator SBS Transit (SBST).

The ComfortDelGro subsidiary posted a 70 per cent surge in net profit to a record S$80.1 million, it reported on Tuesday.

Revenue rose 16.1 per cent to S$1.38 billion for the 12 months to Dec 31, 2018, largely because of higher fees earned with the commencement of the Seletar bus pack…