ComfortDelGro posts record profit, with revenue surging past $4 billion

SINGAPORE - ComfortDelGro Corp posted a 7.7 per cent rise in net earnings to $283.5 million for the year ended Dec 31.

The record profit was on the back of an 8.1 per cent rise in revenue to $4.05 billion - breaching the $4 billion mark for the first time.

The sterling figures were fuelled by broad-based growth, with Singapore accounting for just over half of operating profits.

Of its overseas markets, the main contributors in order of size were the UK/Ireland, Australia and China.

Among business segments, buses - including bus station operation - remained the biggest profit churner, accounting for $177.1 million of the total $442.1 million total.

This was followed by other main contributors such as taxis ($150.9 million), automotive engineering ($51.4 million), and vehicle inspection and testing services ($36.8 million).

The group's rail business was the smallest contributor at $7.6 million, but it chalked the biggest profit growth of 58.3 per cent.

With the exception of automotive engineering shrinking by 2.5 per cent and car rental and leasing stagnating at $9.1 million, the other businesses all improved.

Earnings per share rose to $13.29 cents from 12.43 cents. Its net margin remained stable at 7 per cent, while net tangible asset per share rose from 101.37 cents to 102.36 cents.

The company is proposing a final dividend of 4.5 cents a share, up from four cents last year.

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