SBS Transit's Q1 profit up 44.6% to S$4.8m

Higher average fare and ridership, plus lower energy costs, helped SBS Transit's net profit for the first quarter ended March 31, 2015 grow 44.6 per cent to S$4.8 million.

First-quarter revenue climbed 10.9 per cent to S$247.2 million from the corresponding period one year ago.

Q1 earnings per share was 1.54 cents, up from 1.07 cents a year earlier. No dividend has been proposed.

SBST is the unit of land transport giant ComfortDelGro and Singapore's biggest bus operator. It also runs a smaller rail network.