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SBS Transit reports higher net profit but posts losses in bus and rail operations

Published on May 9, 2014 9:32 PM
 
SBS Transit buses at the Toa Payoh bus interchange. SBS Transit made losses in both bus and rail operations but still managed to post a 16.8 per cent rise in first quarter net profit to $3.3 million, thanks to tax credit recognised. -- ST PHOTO: ALPHONSUS CHERN

SBS Transit made losses in both bus and rail operations but still managed to post a 16.8 per cent rise in first quarter net profit to $3.3 million, thanks to tax credit recognised.

Group operating profit fell by 2.6 per cent to $4.9 million while net income from investment slipped by 12.2 per cent to $100,000.

Pretax profit was 6.3 per cent lower at $3.9 million.

Revenue for the three months to March 31 rose by 8.8 per cent to $222.8 million.

 
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