SBS Transit reports higher net profit but posts losses in bus and rail operations
Published on May 9, 2014 9:32 PM
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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