Transport operator SMRT's 2Q earnings up sharply

Commuters boarding a SMRT bus near Clementi MRT station. Transport operator SMRT Corp posted a 75.5 per cent rise in net earnings to $25.3 million for the second quarter ended Sept 30. -- ST PHOTO: DESMOND WEE
Commuters boarding a SMRT bus near Clementi MRT station. Transport operator SMRT Corp posted a 75.5 per cent rise in net earnings to $25.3 million for the second quarter ended Sept 30. -- ST PHOTO: DESMOND WEE

SINGAPORE - Transport operator SMRT Corp posted a 75.5 per cent rise in net earnings to $25.3 million for the second quarter ended Sept 30.

The sharp increase came on the back of a 6 per cent jump in revenue to $314 million, with bus revenue posting the sharpest rise of 10 per cent, followed by non-fare (9.9 per cent) and rail (2.8).

At the operating level, rail returned to profitability with $6.2 million for the quarter while the bus division narrowed its losses to $2 million (from $7.4 million). Non-fare business posted a 2.9 per cent rise in operating profit to $29 million, fuelled mainly by rental, advertising and taxis.

SMRT declared an interim dividend of 1.5 cents per share, up from one cent previously.