The Edge Singapore Published on Fri, Aug 13, 2021
Land transport operator ComfortDelGro has reported earnings of $91 million, versus a net loss of $6.6 million in the year earlier that was hit hard by the on-going pandemic.
If government grants and other support were excluded, the company’s operating profit was $77.4 million, versus a loss of $76.5 million.
Revenue in the same period was up 13.6% y-o-y to $1.74 billion, with growth seen across its various segments ranging from taxis to bus operations.
The company plans to pay an interim dividend of 2.1 cents. It didn’t pay one this time last year.
Yang Ban Seng, ComfortDelGro’s managing director and group CEO, calls the past six months “painful but tolerable”.
He notes that versus last year’s “catastrophic conditions”, there was “definitely an improvement”.
“Whilst the situation may have improved compared to last year, the continuous see-saw effect of lockdowns and reopenings has taken its toll on businesses and the community alike,” he adds.
ComfortDelGro shares closed Aug 13 at $1.62, up 0.62% for the day and down 2.99% year to date.