SMRT's Q3 profit falls 44% to $14.23m
Fare business turns in $9m operating loss; revenue up 4%
SMRT Corp's net profit tumbled 44.1 per cent year on year to $14.23 million for the third quarter ended Dec 31, 2013, dragged down by its fare business which turned in a $9 million operating loss.
Revenue climbed 4.1 per cent to $293.3 million but operating profit fell 37.2 per cent to $20.1 million. Earnings per share worked out to 0.9 cent in the quarter, down from 1.7 cents a year earlier.
Operating expenses climbed 10.6 per cent to $283.82 million mainly on higher staff and depreciation expenses. Staff costs rose 21.4 per cent to $11…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Tesla to accelerate launch of cheaper cars after sales miss
IBM is in advanced talks to acquire software provider HashiCorp
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected