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SBS Transit's Q3 profit up 42%

TRANSPORT operator SBS Transit's third-quarter profit was driven up about 42 per cent year on year to S$11.11 million, in line with higher revenue.

Revenue edged up around 7 per cent to S$295 million on higher contributions from its public transport services segment. Earnings per share for the quarter was 3.57 Singapore cents, up from 2.52 Singapore cents a year ago.

Meanwhile, group operating costs increased 6.2 per cent to S$280.98 million on the back of higher staff costs, increased repairs and maintenance costs and higher depreciation expenses.

Commenting on group outlook, SBS Transit said: "Revenue from public transport services is expected to be higher. Bus service revenue is expected to be higher with a full-year contribution of revenue under the bus contracting model. Rail service revenue is expected to be higher with higher ridership from the opening of Downtown Line 3 on Oct 21."

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It added that rail fare revenue will be affected by the fare adjustment that kicks in end December. In addition, operating costs will grow due to higher staff costs, repairs and maintenance costs and premises costs.