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SBST profit soars 87.6% to S$31.4m

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SBS Transit's net profit for the year ended Dec 31, 2016, jumped 87.6 per cent to S$31.4 million from the previous year on its commercial services, boosted by a turnaround in its public transport business.

SBS Transit's net profit for the year ended Dec 31, 2016, jumped 87.6 per cent to S$31.4 million from the previous year on its commercial services, boosted by a turnaround in its public transport business.

Revenue climbed 7.3 per cent to S$1.09 billion, No fourth quarter numbers were given.

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

Earnings per share was 10.12 cents compared to 5.41 cents a year earlier. Net asset value per share was S$1.35 as of Dec 31, 2016, up from S$1.10, 12 months earlier.

A tax-exempt one-tier final dividend of 2.70 cents per ordinary share has been proposed, up from 1.05 cents the previous year.

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