SBS Transit's Q3 bottom line dragged down 5% by higher operating costs

Singapore

WEIGHED down by higher operating costs, SBS Transit reported a 5 per cent drop in net profit to S$5.46 million for the third quarter ended Sept 30.

Revenue increased 5.4 per cent year-on-year to S$262.01 million as revenues from both its bus and rail segments were higher. Its bus segment saw a near 5 per cent increase in revenue to S$207.3 million due to higher average daily ridership, average fare and higher other operating income. Average daily ridership was up 2 per cent to 2.9 million passenger trips for the quarter under review.