ComfortDelGro reports 6% rise in Q2 net profit to $68.9 million
Listed transport giant ComfortDelGro Corp lifted earnings in the second quarter, thanks to a better performance in almost all of its business units.
Net profit rose 6 per cent to $68.9 million for the three months to June 30 from the same period last year, while revenue grew 2.7 per cent to $908.4 million after a $10 million foreign exchange loss.
The only unit not to outperform was rail, which turned in an operating profit of $1.8 million, down from $4.6 million previously. This was because it was ramping up its headcount in preparation for the opening of Downtown Line 1 in December.
Operating expenses rose by 2.2 per cent to $795.8 million. Here, forex translations worked in favour of the global firm to the tune of $8.7 million.