SMRT's Q3 profit jumps 63.5% to S$36.86m
SMRT Corp's net profit jumped 63.5 per cent to S$36.86 million in the third quarter ended Dec 31, 2015, driven by its improving non-rail businesses.
Group revenue grew 4.6 per cent to S$327.56 million on broad-based growth across most segments.
SMRT is Singapore's main rail operator. It also runs a smaller fleet of buses and taxis.
Third-quarter earnings per share were 2.42 cents, up from 1.48 cents in the same quarter a year earlier.
No dividend has been declared for Q3.
For the first nine months, net profit rose 17.9 per cent to S$82.74 million on a 5.7 per cent increase in revenue to S$976.62 million.
Year-to-date earnings per share were 5.43 cents, up 17.8 per cent from 4.61 cents in the same period a year ago.
"We continue our steady performance in our non-rail businesses but the rail business remains challenging due to higher operating costs associated with improving rail reliability," said SMRT president and CEO Desmond Kuek.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
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
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece