SMRT's FY2017 rail profit falls 68%

Singapore

SMRT Trains' net profit for the year ended March 31, 2017 fell 68 per cent to S$26 million as the rail operator faced higher maintenance costs.

Earnings before interest and tax was 72 per cent lower at S$27 million, as total FY2017 revenue - a fare and non-fare composite - slipped 2.5 per cent to S$791 million because of lower average fare.