SBS Transit's Q2 net rises 19% on higher revenue from rail business

Singapore

BUOYED by higher revenue, transport operator SBS Transit has reported a net profit of S$7.25 million, up 19 per cent year-on-year, for the second quarter ended June 30.

Revenue edged up 5.6 per cent to S$269 million, largely due to increased revenue from its rail business. Revenue from the rail segment was 24.6 per cent higher at S$65.1 million due to higher average daily ridership after the commencement of revenue service of Downtown Line (DTL) 2. This was offset by lower average fare for North-East Line (NEL) and Light Rail Transit (LRT) due to the fare reduction from Dec 27 last year.