SBS Transit reported a 2.1 per cent rise in total gross revenue of S$396.1 million for the quarter, driven mainly by higher average fare and ridership for rail.
Net profit increased 1.7% to 18.21m versus 17.91m last years.
Operating expense was 2.3 per cent higher, due to an increase in costs for staff and premises, as well as higher rail licence charge and advertising concession fee.
Operating profit decreased 0.1 per cent to S$18.8 million.
They expect increases in costs to moderate with lower inflation and energy prices, going forward.
Ridership in both NEL and DTL is increasingly allowing the company to book a higher revenue.
Plus the fare increase in December will also help to increase their total revenue.
Estimate yearly dividend of 11.2 cents.
Yield is about 4.54% at 2.47.
Pls dyodd.
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