SBS revenue jumps 7.7% to S$1.02 billion

SINGAPORE - SBS Transit's net profit jumped 17 per cent last year due to increase in ridership and average fare in the bus and rail businesses.

Net profit for the year ended Dec 31, 2015 was S$16.7 million, up from S$14.2 million a year ago. Revenue was S$1.02 billion, up 7.7 per cent.

Revenue for the bus business was S$810.5 million, up 7.5 per cent. In the rail business, revenue was S$213.4 million, up 8.3 per cent.

Earnings per share was 5.41 cents, down from 4.62 cents last year.

Net asset value per share was S$1.10 as of Dec 31, up from S$1 a year ago.

SBS Transit declared a final dividend of 1.05 cents. The dividend will be paid on May 13.

gleong@sph.com.sg