SMRT's Q2 profit dives 57% to $14m
HIGHER staff and depreciation costs combined with stagnant fares to put the brakes on SMRT Corp's net profit for the second quarter ended Sept 30, 2013, causing it to plunge 56.8 per cent to $14.4 million, even as revenue rose 5.3 per cent to $296.3 million.
Singapore's main rail operator, which also runs buses and taxis, said Q2 group revenue rose across all segments except for the taxi business.
One particularly bright spot was the non-fare business, whos…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Honda to invest US$808 million in Brazil by 2030
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq