ComfortDelGro’s Latest Earnings: Strong Start to the Year

Blue ComfortDelGro taxi in Singapore

ComfortDelGro Corporation Ltd (SGX: C52) is a Singapore-based land transportation conglomerate with business interests in the bus, taxi and rail services. Apart from Singapore, it has a presence in six other countries, namely, China, the UK, Australia, Malaysia, Ireland, and Vietnam.

ComfortDelGro announced its financial results for the first quarter ending 31 March 2019, yesterday. Let’s have a quick look to see how it did.

Financial highlights 

Here are some of the key financial highlights from the latest full-year results:

1) Revenue grew 7.8% year-on-year to S$947.3 million. The increase in revenue was on the back of strong contributions from new acquisitions which accounted for close to 80% of the increase in revenue.

2) Total operating costs followed suit increased by 7.3% to S$839.9 million. The increase in operating cost was due to staff costs associated with the new acquisitions.

3) As a result, operating profit rose by 12.2% to S$107.4 million.

4) Profit attributable to shareholders saw a 6.2% rise, from S$66.3 million to S$70.4 million.

5) Consequently, earnings per share moved from 3.06 cents to 3.25 cents, up 6.2%.

6) As of 31 December 2018, ComfortDelGro’s balance sheet had S$586.1 million in cash and bank balances, and

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