SBS Transit posts 0.4% gain in H1 net profit
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Shares in SBS Transit closed up 2.4 per cent at $2.61 on Monday, before the announcement.
PHOTO: ST FILE
Yong Hui Ting
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SINGAPORE - Transport operator SBS Transit posted a 0.4 per cent increase in its net profit for the half year ended June to $34.8 million, up from $34.6 million in the corresponding period in 2022.
Its first-half revenue also grew 1.6 per cent to reach $744.4 million, from $732.4 million, driven mainly by higher rail revenue from higher ridership. This was offset by lower bus revenue due to lower service fees, it said in a results filing on Monday.
The group’s earnings per share went up 0.4 per cent to 11.15 cents, from 11.11 cents in the first half of 2022. It has declared an interim dividend of 5.58 cents per share, to be paid out on Aug 30 after books closure next Tuesday.
The company, which is a subsidiary of ComfortDelGro, expects total revenue to stabilise, though it maintained a “cautious outlook due to cost uncertainties arising from inflation, tight labour market and energy prices”.
Shares in SBS Transit closed up 2.4 per cent at $2.61 on Monday, before the announcement. THE BUSINESS TIMES
