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SMRT posts near 2% rise in Q2 profit

SMRT Corp saw its net profit for the second quarter ended Sept 30, 2015 edge up 1.9 per cent year on year to S$25.74 million.

Revenue was 4.7 per cent higher at S$328.76 million as its rail, bus and non-fare business segments all reported higher revenues.

However, total expenses was about 7.1 per cent higher at S$313.59 million, which resulted in an operating profit of S$32.52 million, or 2.4 per cent lower.

Earnings per share came to 1.69 Singapore cents, up from 1.66 cents previously.

During the quarter, share of results of associates and joint ventures were also higher, rising from S$16,000 a year ago to S$1.37 million.

For the six month period ended Sept30, net profit fell 3.7 per cent to S$45.88 million, while revenue rose 6.2 per cent to S$649.06 million.

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