ComfortDelGro profit up 16.6% YoY to $210.5 m in FY2024

Total revenue also rose 15.4% YoY to $4.48b.

ComfortDelGro Corporation Limited (ComfortDelGro) posted a 16.6% year-on-year (YoY) increase in net profit attributable to shareholders (PATMI) to $210.5m for the full year 2024, driven by strong overseas expansion and higher margins across key business segments.

The group's total revenue also rose 15.4% YoY to $4.48b.

The company’s public transportation segment saw a 10.3% increase in operating profit, driven by improved margins from renewed bus contracts in the United Kingdom.

Meanwhile, its taxi and private hire business recorded a 24.4% profit surge, supported by higher ride-hailing commission rates and fares in Singapore, as well as contributions from newly acquired businesses in Australia and the UK.

Overseas profits accounted for 34.9% of the group’s total earnings, up from 26% in FY2023, as ComfortDelGro pursued profitable international expansion.

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